Page:1949 North Dakota Session Laws.pdf/119



Relating to the amendment of by-laws of cooperative marketing associations.

Be It Enacted by the Legislative Assembly of the State of North Dakota:

1.) The stockholders of a cooperative marketing association shall have the power at their annual meeting, or at any special meeting called for that purpose, to amend, modify, or change existing by-laws or to make new by-laws for the management and conduct of the association, notwithstanding any provisions in the by-laws to the contrary. In an association consisting of fifty or more stockholders, a quorum at such stockholders' meeting shall consist of at least twenty-five stockholders. In an association consisting of less than fifty stockholders, a quorum at such stockholders' meeting shall consist of a majority of the stockholders present in person with at least twenty per cent of its stockholders present. The certification and recording of by-laws and amendments thereto, and the effective date of amendments and repeals of by-laws shall be governed by section 10-0506.

Approved March 19, 1949.