The annual meeting of the members shall be held on a date selected by the Board during the period October 1 to November 1 of each year in such place within the certificated area of the Corporation as the Board may designate from year to year with due notice being given to each member as provided elsewhere in these Bylaws, to report the election of trustees, passing upon reports of the previous fiscal year and transacting other such business as may come before the meeting.
It shall be the responsibility of the Board to make adequate plans and preparations for the annual meeting. Failure to hold the annual meeting at the designated time shall not result in a forfeiture or dissolution of the Corporation. In the event, in the opinion of the Board of Trustees, the health, safety, and welfare of the members, or the company, in general, would be served by deferring the annual meeting, the Board of Trustees, by resolution, shall be authorized to defer the annual meeting until the Board determines it may safely be held.
In the event of a deferral of the meeting, the management shall be directed to make available to the members, the trustee election results and reports of the previous fiscal year reports electronically or by mail as the management deems most efficient.
Special meetings of the members may be called by resolution of the Board, or upon written request signed by any 3 Trustees, by the President, or by not less than 200 members or 10% of the members, whichever shall be the lesser, and it shall thereupon be the duty of the Secretary to cause notice of such meeting to be given as hereinafter provided, however, it shall be the obligation of the members who have signed a petition for a special meeting to pay all the costs of preparing and mailing the notices of said special meeting by depositing with the Secretary such an amount of funds as is estimated to be the cost of preparing and mailing the notices.
Written notice stating the place, day, and hour of the meeting, and in case of a special meeting or an annual meeting at which business requiring special notice is to be transacted, the purpose or purposes for which the meeting is called shall be delivered not less than 10 days nor more than 25 days before the date of the meeting, either personally or by mail or at the direction of the Secretary, or upon default in duty by the Secretary, by the persons calling the meeting, to each member.
If mailed, such notice shall be deemed to be delivered when deposited in the United States mail, addressed to the member at his address as it appears on the records of the corporation, with postage thereon prepaid. The failure of any member to receive notice of any annual or special meeting of the members shall not invalidate any action which may be taken by the members at any such meeting.
A quorum for the transaction of business at all meetings of the members shall be as follows: As long as the total number of members does not exceed 500, 10% of the total number of members present in person shall constitute a quorum. In case the total number of members does exceed 500, 100 members or 1% of the total members, whichever shall be the larger, who are present in person, shall constitute a quorum.
If less than a quorum is present at any meeting, a majority of those present in person may adjourn the meeting from time to time without further notice. The minutes of each meeting shall contain a list of the members present in person.
(August 31, 1965; March 10, 1966; October 19, 1972)
Each member shall be entitled to only 1 vote upon each matter submitted to a vote at a meeting of the members. All questions shall be decided by a vote of a majority of the members voting thereon in person, except as otherwise provided by law, the Articles of Incorporation, or these Bylaws.
The order of business at the annual meeting of the members and, so far as possible, at all other meetings of the members, shall be essentially as follows, except as otherwise determined by the members at such meeting:
Meeting was called to order.
Reading of the notice of the meeting and proof of the due publication or mailing thereof, or the waiver or waivers of notice of the meeting, as the case may be.
Report on the number of members present in person in order to determine the existence of a quorum.
Reading of unapproved minutes of previous meetings of the members and the taking of necessary action thereon.
Presentation and consideration of reports of officers, trustees, and committees.
