43-16-113 - Amendment of articles of incorporation. - Tennessee Statutes

43-16-113. Amendment of articles of incorporation.

(a)  An amendment must first be approved by two thirds (2/3) of the directors and then adopted by a vote representing a majority of all the members of the association.

(b)  However, if, at a meeting of the members of the association to which a proposed amendment has been submitted, a majority of the members are not present, then those present and also members voting by proxy may adjourn the meeting to a time and place certain, but not sooner than three (3) weeks from the time of adjournment. Prior to the convening of the adjourned meeting, notices shall be placed in a newspaper of general circulation in the place where the principal office of the association is located each week for three (3) weeks. These notices shall state the time, place, and purpose of the adjourned meeting. When the meeting reconvenes, the members present in person or by proxy shall constitute the quorum, and may take action on the proposed amendment by a majority vote of those represented, even if fewer than a majority of the total membership of the association.

[Acts 1923, ch. 100, § 9; Shan. Supp., § 2534a37; mod. Code 1932, § 3795; Acts 1976, ch. 753, § 1; T.C.A. (orig. ed.), § 43-1813.]