§ 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.

HISTORY: An. Code 1957, art. 23, § 361; 1975, ch. 311, § 2.