PART VII. MEMBERS' MEETINGS, AND VOTING

 

[§414D-101] Annual and regular meetings.  (a)  Acorporation with members shall hold a membership meeting annually at atime stated in or fixed in accordance with the bylaws.

(b)  A corporation with members may holdregular membership meetings at the times stated in or fixed in accordance withthe bylaws.

(c)  Annual and regular membership meetings maybe held in or out of this State at the place stated in or fixed in accordancewith the bylaws.  If no place is stated in or fixed in accordance with thebylaws, annual and regular meetings shall be held at the corporation'sprincipal office.

(d)  At the annual meeting:

(1)  The president and chief financial officer shallreport on the activities and financial condition of the corporation; and

(2)  The members shall consider and act upon suchother matters as may be raised consistent with the notice requirements ofsections 414D‑105 and 414D‑111.

(e)  At regular meetings the members shallconsider and act upon such matters as may be raised consistent with the noticerequirements of sections 414D‑105 and 414D‑111.

(f)  The failure to hold an annual or regularmeeting at a time stated in or fixed in accordance with a corporation's bylawsshall not affect the validity of any corporate action. [L 2001, c 105, pt of§1]