79-19-29 - Referendum may be had in certain cases.
§ 79-19-29. Referendum may be had in certain cases.
Upon demand of one third (1/3) of the entire board of directors, any matter that has been approved or passed by the board must be referred to the entire membership or the stockholders for decision at the next special or regular meeting; provided, however, that a special meeting shall be called for the purpose.
Sources: Codes, 1930, § 4113; 1942, § 4508; Laws, 1922, ch. 179.