☰ Revisor of Missouri

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 370

< > Effective - 28 Aug 2020, 2 histories bottom

  370.170.  Meetings and special meetings, voting — proxies, when — action at meeting. — 1.  Special meetings of the members may be held by order of the board of directors, or the supervisory committee, and shall be held on request of ten percent of the members.

  2.  At all meetings a member shall have but one vote.

  3.  No member may vote by proxy, but a society, association, copartnership, or corporation, having membership in a credit union, may be represented by one person, previously authorized by such society, association, copartnership or corporation to transact business with the credit union.  The bylaws of a credit union, when approved by the membership, may provide for mail or electronic ballots for the election of officers.

  4.  By majority vote of those present at any meeting, the members may decide on any matter of interest to the credit union, amend the bylaws relating to qualifications for membership, the election or appointment of the supervisory committee, determine the requirements for a credit committee and if such committee should be elected or appointed, and overrule the directors on any matter concerning guidelines for future plans and objectives, provided the notice of the meeting has stated any such matter to be considered upon a written request of any member, except that the members cannot cause the credit union to breach or abrogate any legally binding obligation or contract previously executed by the board.

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(RSMo 1939 § 5527, A.L. 1945 p. 689, A.L. 1972 S.B. 502, A.L. 1982 H.B. 1099, A.L. 1984 H.B. 962, A.L. 2020 S.B. 599)

Prior revision: 1929 § 5085


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370.170 8/28/2020
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