§ 7-8-32 - Acceptance of chapter by cooperatives formed under other law.
SECTION 7-8-32
§ 7-8-32 Acceptance of chapter bycooperatives formed under other law. – Any corporation incorporated under another law of this state and operating on acooperative basis may elect, by a vote of a majority of its members voting, tosecure the benefits of and be bound by this chapter, and shall subsequentlyamend any of its articles of association and bylaws that are not in conformitywith this chapter. A certified copy of the amended articles of associationshall be filed with the secretary of state, and a certified copy of the abovevote and a fee of five dollars ($5.00) paid to the secretary of state. Upon thefiling and the payment of the fee, the corporation is subsequently, in allrespects, governed by the provisions of this chapter.