466 - Meetings of shareholders; voting.

§  466.  Meetings  of  shareholders;  voting.  1.  At  all meetings of  shareholders of every credit union each shareholder shall have one  vote  irrespective  of the number of shares which he holds; provided, however,  after a credit union has been in existence for a period of more than one  year, only a person who shall have been a  shareholder  of  such  credit  union  for  ninety  days  prior to the date of any such meeting shall be  entitled to vote. Every member entitled to vote at a meeting of  members  of  the  credit union may authorize another person or persons to act for  him by proxy at such meeting or, if the bylaws so provide, may  vote  by  mail  in  accordance with the provisions of the bylaws. Every proxy must  be signed by the member or his attorney-in-fact.    No  proxy  shall  be  valid except for the meeting specified therein and adjournments thereof.  Every  proxy  shall be revocable at the pleasure of the member executing  it. The authority of the holder of a proxy to act shall not  be  revoked  by  the  incompetence  or  death  of  the  member who executed the proxy  unless,  before  the  authority  is  exercised,  written  notice  of  an  adjudication  of  such  incompetence or of such death is received by the  officer of the credit union responsible  for  maintaining  the  list  of  members.  A  shareholder  may  vote by proxy at a meeting called to vote  upon voluntary dissolution. The bylaws may  prohibit  or  further  limit  proxies   for   members   and  their  duration.  No  officer,  director,  supervisory committee member, credit  committee  member,  loan  officer,  clerk, teller or bookkeeper of the credit union shall act as such proxy.  No  director,  supervisory committee member, credit committee member, or  officer of a credit union shall be eligible to act as an inspector of an  election  of  directors,  supervisory  committee  members   and   credit  committee members, at any meeting of members of the credit union.    2.  Complete minutes of all shareholders' meetings shall be kept which  shall include a record of the exact number of members  present  together  with  a  count  of  votes  cast  for  the  election of all directors and  committee members.    3. Upon the petition of any shareholder aggrieved by an election,  and  upon  notice  to the persons declared elected, the credit union and such  other persons as the court may direct, the supreme court  at  a  special  term  held  within  the judicial district where the office of the credit  union is located shall forthwith hear the proofs and allegations of  the  parties,  and  confirm  the  election, order a new election or take such  other action as justice may require.