Section 393:50 Conversion Into State-Chartered Association.
Any federal savings and loan association may convert itself into a building and loan association or a cooperative bank under this subdivision upon a vote of 51 percent or more votes of members of such federal savings and loan association present and voting at an annual meeting or at any special meeting called to consider such action; notice of such meeting to vote on conversion shall be mailed at least 20 and not more than 30 days prior to the date of the meeting to each member of record at his last known address as shown on the books of the associations.
Source. 1949, 168:1, par. 46, eff. April 28, 1949.