(A) Notwithstanding another provision of this chapter, any proposition embodied in a petition signed by at least ten percent of the members of the corporation, except for dissolution or sale of a substantial portion of the assets of the corporation, must be submitted to the members of the corporation. The submission to the membership must occur at a special meeting of the membership held within forty-five days after the presentation of the petition unless the next annual meeting of members falls within ninety days after the presentation or unless the petition requests the issue be raised at the annual meeting.
(B) The approval of the board is not required for a proposition signed by ten percent of the membership, except for dissolution or the vote to sell a substantial portion of the assets of the corporation, to be submitted to the membership for vote and adopted at a regular or special meeting.
(C) The board must exercise its best efforts to carry out the directives of the membership which are adopted pursuant to a ten percent or greater membership petition, and failure by a board member to exercise his best efforts to carry out the directive is just cause for removal from the board.
HISTORY: 2000 Act No. 404, Section 2.
Structure South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
Chapter 36 - Corporations Not-for-profit Financed By Federal Or State Loans
Section 33-36-10. "Corporation not-for-profit" defined.
Section 33-36-210. Articles of incorporation.
Section 33-36-220. When corporation constituted.
Section 33-36-240. Amendment of charter and articles of incorporation.
Section 33-36-250. Conformance to provisions of Sections 33-36-10 and 33-36-20.
Section 33-36-270. Additional powers.
Section 33-36-290. Effect of irregularity in complying with provisions of chapter.
Section 33-36-300. Amendment of bylaws; emergency bylaws.
Section 33-36-410. Use of services provided as condition of membership.
Section 33-36-420. Annual meetings.
Section 33-36-450. Member petitions.
Section 33-36-460. Private property of members exempted from liability for debt of corporation.
Section 33-36-610. Governing board; powers; membership.
Section 33-36-630. Indemnification of board members who become parties to proceedings.
Section 33-36-640. Standards for board members.
Section 33-36-650. Election of board members; district representation; terms.
Section 33-36-810. Sale of assets.
Section 33-36-820. Consolidation.
Section 33-36-840. Effect of consolidation or merger.
Section 33-36-1030. Certificate of election to dissolve; affidavit of compliance.
Section 33-36-1040. Submission of certificate of dissolution and affidavit to Secretary of State.
Section 33-36-1050. Winding up and settling affairs.
Section 33-36-1060. Notice of winding up proceedings.
Section 33-36-1070. Articles of dissolution.
Section 33-36-1210. Corporations organized under Chapter 35 of Title 33.
Section 33-36-1315. Resolution to become public service district; notice; petition; vote.
Section 33-36-1320. Petition for charter.
Section 33-36-1330. Appointment or election of board members.
Section 33-36-1340. Election of commissioners.
Section 33-36-1350. Election of officers by the board.