35-17-314. Referendum to membership of matters passed by board. Upon demand of a majority 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 a decision at the next special or regular meeting. However, a special meeting may be called for the purpose.
History: En. Sec. 16, Ch. 233, L. 1921; re-en. Sec. 6443, R.C.M. 1921; re-en. Sec. 6443, R.C.M. 1935; R.C.M. 1947, 14-416; amd. Sec. 9, Ch. 130, L. 1999.
Structure Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 17. Cooperative Agricultural Marketing
Part 3. Operation -- Members, Directors, and Officers
35-17-302. Stock -- issuance -- limitations on ownership and transfer -- repurchase by association
35-17-303. Limited liability of members
35-17-304. Expulsion of member
35-17-305. Meetings of members -- general and special -- how called -- notice -- one vote per member
35-17-306. through 35-17-310 reserved
35-17-311. Directors -- election -- compensation -- interest in contracts -- vacancies
35-17-312. Officers -- election -- bank as treasurer
35-17-313. Removal of officer or director
35-17-314. Referendum to membership of matters passed by board
35-17-315. Creation of capital reserve -- distribution of net earnings