Guam § 17507 - Special Meeting of Members.

§ 17507. Special Meeting of Members.

(a) A special meeting of members may be called only:

(1) as provided in the organic rules;

(2) by a majority vote of the board of directors on a proposal stating the purpose of the meeting;

(3) by demand in a record signed by members holding at least twenty (20) percent of the voting

power of the persons in any district or class entitled to vote on the matter that is the purpose of the

meeting stated in the demand; or

(4) by demand in a record signed by members holding at least ten (10) percent of the total voting

power of all the persons entitled to vote on the matter that is the purpose of the meeting stated in the

demand.

(b) A demand under Subsection (a)(3) or (4) of this Section must be submitted to the officer of the

limited cooperative association charged with keeping its records.

(c) Any voting member may withdraw its demand under Subsection (a)(3) or (4) of this Section before

receipt by the limited cooperative association of demands sufficient to require a special meeting of

members.

(d) A special meeting of members may be held inside or outside Guam at the place stated in the organic

rules or selected by the board of directors not inconsistent with the organic rules.

(e) Unless the organic rules otherwise provide, members may attend or conduct a special meeting of

members through the use of any means of communication if all members attending the meeting can

communicate with each other during the meeting.

(f) Only business within the purpose or purposes stated in the notice of a special meeting of members

may be conducted at the meeting.

(g) Unless the organic rules otherwise provide, the presiding officer of a special meeting of members

shall be designated by the board of directors.

COL 2025-04-22