1. (1) The meetings of the members or stockholders of a Montana building and loan association must be held at its office or principal place of business in this state.

2. (2) In its bylaws, such association shall provide for at least one regular meeting of members or stockholders annually. Notice of any meeting, whether regular or special, shall be given by the secretary in accordance with 32-2-209. The board of directors shall have the right to call a special meeting at any time. The board of directors must also call a special meeting whenever petitioned to do so by:

   1. (a) members of a mutual association representing at least 25% of the withdrawable deposits of the association; or
   2. (b) stockholders owning at least 25% of the issued stock.
3. (3) The secretary shall call special meetings in the same manner as provided in 32-2-209.

History: En. Sec. 9, Ch. 57, L. 1927; re-en. Sec. 6355.10, R.C.M. 1935; R.C.M. 1947, 7-110; amd. Sec. 5, Ch. 5, L. 1983.