CODE OF VIRGINIA

NOTICE OF MEETINGS OF MEMBERS; DETERMINING MEMBERS ENTITLED TO NOTICE OR TO VOTE
(§ 6.2-1123)

A. A mutual savings institution shall give notice of its meetings of members as
required by § 13.1-842 and shall post a copy of the notice in a conspicuous
place in each office of the institution during the 14 days preceding the date of
the meeting.

B. For the purpose of determining members entitled to notice of or to vote at
any meeting of members or any adjournment thereof, or in order to make a
determination of members for any other purpose, the board of directors of a
mutual savings institution may provide that the membership shall be closed for a
stated period but not to exceed, in any case, 50 days. In lieu of closing the
membership, the bylaws or, in the absence of any applicable bylaw, the board of
directors may fix in advance a date as the record date for any such
determination of membership. Such date in any case shall not be more than 50
days prior to the date on which the particular action, requiring such
determination of members, is to be taken. If the membership is not closed and no
record date is fixed for the determination of members entitled to notice of or
to vote at a meeting of members, the date on which notice of the meeting is
mailed shall be the record date for such determination of membership. When a
determination of members entitled to vote at any meeting of members has been
made as provided in this section, the determination shall apply to any
adjournment thereof.

HISTORY: Code 1950, § 6-201.38; 1960, c. 402; 1966, c. 584, § 6.1-168; 1972,
c. 796, § 6.1-195.45; 1977, c. 46; 1985, c. 425, § 6.1-194.16; 2010, c. 794.