Bill 3751

                    Current Status

Bill Number:               3751
Ratification Number:       576
Act Number                 511
Introducing Body:          House
Subject:                   Special meeting notice requirement 

(A511, R576, H3751)

AN ACT TO AMEND SECTION 34-27-80, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ANNUAL AND SPECIAL MEETINGS OF CREDIT UNIONS, SO AS TO REVISE THE NOTICE REQUIREMENTS FOR SPECIAL MEETINGS OF CREDIT UNIONS.

Be it enacted by the General Assembly of the State of South Carolina:

Special meeting notice requirement

SECTION 1. Section 34-27-80 of the 1976 Code is amended to read:

"Section 34-27-80. The annual meeting of the credit union must be held at that time and place as bylaws prescribe. Special meetings may be held by order of the directors or the supervision committee, and the secretary shall give notice of special meetings upon request, in writing, of twenty-five members or five percent of the membership as of the date of the request but not more than two hundred, whichever number is larger. Notice of all meetings of the credit union must be given in the manner prescribed by the bylaws. No person is entitled to vote who has not been a member for more than three months, but this restriction does not apply during the first twelve months of existence of the credit union, nor may any member vote by proxy or have more than one vote. At the annual meeting the members, upon recommendation of the board of directors, shall fix the amount of the entrance fee. At any meeting the members may decide upon any question of interest to the credit union, upon appeal of two members may reverse decisions of the credit committee or board of directors, and by a three-fourths vote of those present, provided the notice of the meeting has specified the question to be considered, may amend the bylaws."

Time effective

SECTION 2. This act takes effect upon approval by the Governor.