17:9A-78 - By-laws; amendments; repeal; notice - New Jersey Statutes

17:9A-78.  By-laws;  amendments;  repeal;  notice
    By-laws shall not be made, altered or repealed by the stockholders except at  an annual or special meeting of the stockholders by the affirmative vote of the  holders of a majority of the capital stock of the bank entitled to vote at such  meeting.  By-laws shall not be made, altered or repealed by the board of  directors except by the affirmative vote of a majority of the whole board at  any regular or special meeting of the board of directors, and unless at least  two days prior written notice of the intended action shall have been given to  the directors.  Such notice may be waived by a director at or prior to the  meeting.

     L.1948, c. 67, p. 255, s. 78.  Amended by L.1949, c. 229, p. 718, s. 1.