17-4610.   Meetings of members.(a) An annual meeting of the members of a cooperative shall be held at suchtime and place as shall be provided in the bylaws.

      (b)   Special meetings of the members may be called by the president, bythe board of trustees, by any three (3) trustees, or by not less than tenpercent (10%) of the members.

      (c)   Except as otherwise provided in this act, written or printed noticestating the time and place of each meeting of the members and, in the caseof a special meeting, the purpose or purposes for which the meeting is called,shall be given to each member, either personally or by mail, not less thanten (10) days nor more than thirty-five (35) days before the date of themeeting. If mailed, such notice shall be deemed to be given when depositedin the United States mail, with postage prepaid, addressed to the memberat his or her address as it appears on the records of the cooperative.

      (d)   Unless the bylaws prescribe the presence of a greater percentage ornumber of the members for a quorum, a quorum for the transaction of businessat all meetings of the members of a cooperative having not more than onethousand (1,000) members, shall be five percent (5%) of all members, whomust be present in person, and of a cooperative having more than one thousand(1,000) members, shall be fifty (50) members, present in person. If lessthan a quorum is present at any meeting, a majority of those present inperson may adjourn the meeting from time to time without further notice.

      (e)   Each member shall be entitled to one (1) vote on each matter submittedto a vote at a meeting of the members.

      Voting shall be in person, but, if the bylaws so provide, may also be byproxy or by mail, or both. If the bylaws provide for voting by proxy orby mail, they shall also prescribe the conditions under which voting shallbe permitted. No person shall vote as proxy more than three (3) membersat any meeting of the members.

      History:   L. 1941, ch. 185, § 10; L. 1978, ch. 81, § 2; July 1.