Arizona Laws 6-525. Meetings of members
A. The members of the credit union shall hold the annual meeting and any special meetings as provided in the bylaws.
Terms Used In Arizona Laws 6-525
- Credit union: means a cooperative nonprofit association that is incorporated under this chapter for the purposes of encouraging thrift among its members and creating a source of credit and other financial services at fair and reasonable cost. See Arizona Laws 6-501
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Organization: means any corporation, association, partnership, society, firm, syndicate, trust or other legal entity. See Arizona Laws 6-501
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
B. At all such meetings a member has only one vote, irrespective of the member’s shareholdings. A member may not vote by proxy, but a member may vote by absentee ballot, mail ballot or other method if the bylaws of the credit union so provide.
C. The board of directors may establish a minimum age, of not more than eighteen, as a qualification of eligibility to vote at meetings of the members or to hold office, or both. Members who are minors may vote through their parent or other legal guardian.
D. An organization having membership in the credit union may be represented and have its vote cast by one of its members or shareholders, if the person has been duly authorized by the organization.