Section 5-519 - Meetings.
§ 5-519. Meetings.
(a) Annual meeting.-
(1) Every cooperative shall hold an annual meeting of its members to elect directors and to transact any other business within its powers.
(2) The meeting shall be held:
(i) At the time provided in the bylaws; or
(ii) If the bylaws specify a period not exceeding 31 days during which the meeting may be held, at a time within that period set by the board of directors.
(b) Additional regular meetings.- The bylaws may provide for additional regular meetings.
(c) Special meetings.-
(1) The board of directors may call a special meeting at any time.
(2) Ten percent of the members may demand a special meeting at any time by filing a petition which states the specific business to be brought before the meeting, and the board of directors then shall call the meeting.
(d) Notice of meetings.- Notice of each meeting shall be mailed to each member at least ten days before the meeting and, if a special meeting is called, the notice shall state the purpose of the meeting.
[An. Code 1957, art. 23, § 361; 1975, ch. 311, § 2.]