§421-7  Amendments of articles ofincorporation.  (a)  An association may amend its articles of incorporationby the affirmative vote of two-thirds of the members voting thereon at anyregular meeting, or at a special meeting called for the purpose, or if theassociation permits its members to vote on the basis of patronage, by theaffirmative vote of a majority of the members and of two-thirds of thepatronage, voting thereon.  A written or printed notice of the proposedamendment, and of the time and place of holding the meetings shall be deliveredto each member, or mailed to the member's last known address as shown by thebooks of the association, at least thirty days prior to any such meetings.  Noamendment affecting the preferential rights of any outstanding stock shall beadopted until the written consent of the holders of two-thirds of theoutstanding preference shares has been obtained.

(b)  After an amendment has been adopted,articles of amendment shall be certified and executed by the president or vicepresident and by the treasurer or secretary or assistant secretary, and filedas in the case of articles of incorporation,  including the payment of fees. [L1949, c 234, pt of §1; RL 1955, §176-8; HRS §421-7; gen ch 1985; am L 1988, c373, §20]