Session Laws

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

Section 5 of chapter 294 of the acts of 1961, as appearing in section 1 of chapter 306 of the acts of 1973, is hereby amended by striking out the first paragraph and inserting in place thereof the following paragraph:-

The annual meeting of the corporation shall be held in the commonwealth within sixty days after the close of the corporation's fiscal year and shall be called by the clerk at a time and place to be designated by the directors. Special meetings of the corporation may be called by a majority of the members of the board of directors or at the request of the commissioner. Such request shall be signed by said directors, shall state the proposed purposes and proposed date of the meeting, and shall be given to the clerk of the corporation at least forty-five days before the proposed date of the meeting. The call for such meeting shall state the time, place and purpose or purposes thereof and shall be mailed to each regular member and excess member at its place of business at least thirty days before the date of the meeting. If any of the purposes of the meeting are to adopt an amendment to the by-laws such request and the call for the meeting shall contain notice of the proposed amendment and a copy thereof.