8-304. Stockholders; voting; limitations.
96 words·~1 min read·
/ne/chapter-8/8-304A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subject to the limitations set forth in section 8-303 , each investing member shall be permitted to cast one vote for each hundred dollars of withdrawal value of his stock. Each borrowing member shall be permitted as a borrower to cast one vote, or to cast one vote for each one hundred dollars of the credit value of his stock. Fifteen or more members present at a regular or special meeting of members constitute a quorum. Voting may be by proxy if the instrument authorizing the proxy to vote shall have been executed by a member.