Section 5-205 - When membership reduced by death or resignation.
§ 5-205. When membership reduced by death or resignation.
(a) Reduction of membership below majority.- A nonstock corporation is not required to dissolve merely because the death or resignation of a member reduces the actual number of members to less than required by its charter or bylaws.
(b) Power of remaining members.- As long as there is a remaining member, he may fill vacancies and continue the corporate existence.
[An. Code 1957, art. 23, § 134; 1975, ch. 311, § 2.]