Chap. 369.—An ACT to amend and re-enact section 7 of an act entitled an act
to provide for the incorporation, establishment and operation of loan anc
savings institutions known as “credit unions,” approved March 27, 1922.

[S B 243)
Approved March 29, 1934

1. Be it enacted by the General Assembly of Virginia, That sectior
seven of an act entitled an act to provide for the incorporation, es-
tablishment and operation of loan and savings institutions known
as “credit unions,” approved March twenty-seventh, nineteen hun-
dred and twenty-two, be amended and re-enacted so as to read as
follows:

Section 7. Fiscal year and meetings; regulations as to voting.—
The fiscal year of every such corporation shall end at the close of
business on the thirty-first day of December. The annual meeting
of the corporation shall be held in January. Special meetings may
be held by order of the directors or of the supervisory committee, and
shall be held upon request in writing of ten per centum of the mem-
bers. Notice of all meetings of the corporation shall be given in the
manner prescribed in the by-laws. At all meetings of members a
member shall have but one vote, irrespective of the number of shares
held. Except as hereinafter provided, no shareholder may vote by
proxy, but a society, association, co-partnership or corporation, having
membership in the credit union, may be represented by one person
authorized by said society, association, co-partnership or corporation
to so represent it; provided, however, that at any meeting called for
the purpose of amending the charter or certificate of incorporation
any shareholder may vote by proxy for or against such amendment,
but for no other purpose. At any meeting the members may decide
upon any question of interest to the corporation, and overrule the
board of directors, and by a three-fourths vote of those present and
represented, provided the notice of the meeting shall have specified
the question to be considered, may vote to amend the by-laws.