The annual meeting of the corporation shall be held in the month of April and shall be called by the secretary at a time and place to be designated by the board. Special meetings of the corporation may be called by request either of a majority of the members of the board or the commissioner or any supervisory agency. The request shall be signed by the directors, shall state the purposes and date of the meeting and shall be given to the secretary of the corporation at least forty-five days before the date of the meeting. The call for such meeting shall state the time, place and purpose thereof and shall be mailed to each member at least thirty days before the date of the meeting. If a purpose of the meeting is to adopt an amendment to the bylaws, the request and the call of the meeting shall contain notice and a copy of the proposed amendment. The board shall meet at least quarterly, once in the months of October, January, April and July. A quorum of the board shall consist of not less than a majority of the directors.
History: 1953 Comp., § 48-19A-6, enacted by Laws 1973, ch. 114, § 6; 1979, ch. 95, § 6.
Cross references. — For meaning of "commissioner", see 58-12-2C NMSA 1978 and notes thereto.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 12 - Credit Union Share Insurance Corporations
Section 58-12-1 - Short title.
Section 58-12-2 - Definitions.
Section 58-12-3 - Formation of corporation; purpose.
Section 58-12-3.1 - Out-of-state members.
Section 58-12-4 - Corporation organization and bylaws.
Section 58-12-5 - Corporation directors and officers.
Section 58-12-6 - Corporation; board meetings.
Section 58-12-7 - Corporation; powers and duties of the board.
Section 58-12-8 - Corporation; termination of membership; penalty.
Section 58-12-9 - Corporation; membership.
Section 58-12-10 - Corporation; assessments.
Section 58-12-11 - Assessments; for operational purposes.
Section 58-12-12 - Financial assistance.
Section 58-12-13 - Dissolution of the corporation.