Upon demand of one-third (1/3) of the entire board of directors, any matter that has been approved or passed by the board must be referred to the entire membership or the stockholders for decision at the next special or regular meeting. A special meeting may be called for that purpose.
Structure Arkansas Code
Subtitle 1 - General Provisions
Chapter 2 - Agricultural Cooperative Associations
Subchapter 1 - General Provisions
§ 2-2-105. Reasons for organizing
§ 2-2-108. Articles of association
§ 2-2-109. Amendments to articles
§ 2-2-110. Bylaws — Amendment of articles or bylaws
§ 2-2-111. Regular and special meetings
§ 2-2-114. Certificates of membership or stock
§ 2-2-115. Matters referred to membership
§ 2-2-116. Marketing contracts — Participation agreements
§ 2-2-117. Remedies for breach of bylaws or contracts
§ 2-2-118. Penalties for inducing breach of contract
§ 2-2-119. General corporation laws
§ 2-2-120. Interest in similar entities
§ 2-2-121. Existing entities may participate
§ 2-2-122. Arrangements not in restraint of trade