Any association organized under previously existing statutes may elect, by vote of its members as provided in its Articles of Incorporation and bylaws for the amendment of its Articles of Incorporation and bylaws to be brought under the provisions of this act by complying with the restrictions provided herein. A statement signed and sworn to by its directors to the effect that the corporation or association has decided to adopt the benefits and be bound by the provisions of this act and has duly authorized all changes accordingly shall be filed as required for the filing of an amendment to the Articles of Incorporation. The same fee shall be paid for such filing as for the filing of an amendment to the Articles of Incorporation.

Laws 1937, p. 267, § 18; emerg. eff. May 22, 1937.