6.2-1123 - (Effective October 1, 2010) Notice of meetings of members; determining members entitled to notice or to vote.
§ 6.2-1123. (Effective October 1, 2010) Notice of meetings of members;determining members entitled to notice or to vote.
A. A mutual savings institution shall give notice of its meetings of membersas required by § 13.1-842 and shall post a copy of the notice in aconspicuous place in each office of the institution during the 14 dayspreceding the date of the meeting.
B. For the purpose of determining members entitled to notice of or to vote atany meeting of members or any adjournment thereof, or in order to make adetermination of members for any other purpose, the board of directors of amutual savings institution may provide that the membership shall be closedfor a stated period but not to exceed, in any case, 50 days. In lieu ofclosing the membership, the bylaws or, in the absence of any applicablebylaw, the board of directors may fix in advance a date as the record datefor any such determination of membership. Such date in any case shall not bemore than 50 days prior to the date on which the particular action, requiringsuch determination of members, is to be taken. If the membership is notclosed and no record date is fixed for the determination of members entitledto notice of or to vote at a meeting of members, the date on which notice ofthe meeting is mailed shall be the record date for such determination ofmembership. When a determination of members entitled to vote at any meetingof members has been made as provided in this section, the determination shallapply to any adjournment thereof.
(1991, c. 230, §§ 6.1-194.16; 2010, c. 794.)