Section 9-302 – Directors
(a) The business and affairs of a savings and loan association shall be managed under the direction of a board of directors. (b) A savings and loan association shall have at least 5 directors, as its charter or bylaws provide. (c) (1) Each director of a savings and loan association shall be: (i) A citizen of the United States; and […]
Section 9-303 – Voting Rights
Except as otherwise provided by the charter or bylaws, each member of: (1) A mutual association has one vote; and (2) A capital stock association has one vote for each share of capital stock that the member owns of record.
Section 9-304 – Notice of Meeting
(a) A savings and loan association shall notify each member of the time and place of any meeting of members at least 20 days before the meeting. (b) The notice shall be given by mail or by publication in a newspaper of general circulation in the political subdivision where the principal business office of the association is […]
Section 9-305 – Quorum; Majority Rule
At any meeting of the members of a savings and loan association: (1) Except as provided in the charter or bylaws, any number of members present in person or by proxy is a quorum; and (2) Unless otherwise specifically provided by law, the charter, or the bylaws, a majority of all votes cast at which a quorum […]