§421-7  Amendments of articles of
incorporation.  (a)  An association may amend its articles of incorporation
by the affirmative vote of two-thirds of the members voting thereon at any
regular meeting, or at a special meeting called for the purpose, or if the
association permits its members to vote on the basis of patronage, by the
affirmative vote of a majority of the members and of two-thirds of the
patronage, voting thereon.  A written or printed notice of the proposed
amendment, and of the time and place of holding the meetings shall be delivered
to each member, or mailed to the member's last known address as shown by the
books of the association, at least thirty days prior to any such meetings.  No
amendment affecting the preferential rights of any outstanding stock shall be
adopted until the written consent of the holders of two-thirds of the
outstanding preference shares has been obtained.



(b)  After an amendment has been adopted,
articles of amendment shall be certified and executed by the president or vice
president and by the treasurer or secretary or assistant secretary, and filed
as in the case of articles of incorporation,  including the payment of fees. [L
1949, c 234, pt of §1; RL 1955, §176-8; HRS §421-7; gen ch 1985; am L 1988, c
373, §20]