The articles of incorporation may be altered or amended at any regular meeting or any special meeting called for that purpose. An amendment must first be approved by two-thirds of [the] directors, and then adopted by a vote representing two-thirds of all members present at such meeting. Amendments to the articles of incorporation when adopted shall be filed in the same manner as provided for the filing of the original articles.
History: Laws 1937, ch. 152, § 9; 1941 Comp., § 48-1309; 1953 Comp., § 45-14-9.
ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Cross references. — For filing of original articles, see 76-12-8 NMSA 1978.
For similar provision in earlier act, see Laws 1925, ch. 99, § 4.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Cooperative Associations § 13.
Benefits: validity and enforceability of bylaws amendment reducing benefits available to members, 61 A.L.R.3d 976.
3 C.J.S. Agriculture § 140.