§ 7-6.1-10 - Articles or bylaws. - Rhode Island Statutes

SECTION 7-6.1-10

   § 7-6.1-10  Articles or bylaws. – The articles or bylaws may provide:

   (1) For election of directors and other officials by unit ordistrict;

   (2) For voting by stockholders or members on the basis of onevote per stockholder or member, or one vote per dwelling unit rather than onevote per share or certificate;

   (3) That any action required or permitted to be taken at ameeting of stockholders or members may be taken by mail ballot;

   (4) For a method of membership representation of stockholdersor members at meetings by delegates from units or districts; provided, thatdelegates must be proportional to the number of stockholders or members in eachunit district;

   (5) For redemption or recall of stock;

   (6) For termination of membership rights and privileges of astockholder;

   (7) Standards for eligibility to become a stockholder ormember;

   (8) For the allocation of its net savings among the usespermitted in § 7-6.1-11.