13 §1875. Referendum - Maine Statutes

Title 13: CORPORATIONS

Part 2: CORPORATIONS WITHOUT CAPITAL

Chapter 85: COOPERATIVES

Subchapter 2: AGRICULTURAL MARKETING AND BARGAINING

Article 3: OFFICERS AND DIRECTORS

§1875. Referendum

The articles or bylaws may provide that upon demand of 2/5 of all the directors, any matter of policy that has been approved or passed by the board must be referred to the members for their approval before it becomes effective. No referendum shall be allowed unless it is demanded by the required number of directors at the meeting at which the matter of policy in question is adopted.