CORPORATIONS. 859

1922, ch. 197, sec. 480.

430. In its by-laws each association shall provide for one or more
regular meeting annually. The board of directors shall have the right to
call a special meeting at any time, and ten per cent of the members or
stockholders may file a petition stating the specific business to be brought
before the association and demand a special meeting at any time. Such
meeting must thereupon be called by the directors. Notice of all meetings,
shall be mailed to each member at least ten days prior to the meeting and
in case a special meeting is called, said notice .shall be accompanied by a
statement of the purposes therein.

1922, ch. 197, sec. 481.

431. The directors shall elect from their number annually a president
and one or more vice-presidents. They shall also elect a secretary and a
treasurer, who need not be directors and they may combine the two latter
offices and designate the combined office as secretary-treasurer.

1922, ch. 197, sec. 482.

432. Any member may bring charges against an officer or director by
filing them in writing with the secretary of the association, together with
a petition signed by ten per cent of the members, not exceeding twenty-five
persons requesting the removal of the officer or director in question. The
removal shall be voted upon at the next regular or special meeting of the
association, and, by a vote of a majority of the members present, the asso-
ciation may remove the officer or director and fill the vacancy. The direc-
tor or officer against whom such charges have been brought shall be in-
formed in writing of the charges previous to the meeting and shall have
an opportunity at the meeting to be heard in person or by counsel and to
present witnesses; and the person or persons bringing the charges against
him shall have the same opportunity.

1922, ch. 197, sec. 483.

433. A. Contracts between any association organized under this sub-
title and its members, whereby such members agree to sell all or a speci-
fied part of their products to or through, or to buy all or a specified part
of goods from or through the association or any facilities created by the
association, shall if otherwise lawful, be valid; provided however that
this requirement shall not prevent such contracts from being made self-
renewing for periods not exceeding five years each, unless notice shall be
given by either of the partie's thereto, at least sixty days be.fore the expira-
tion thereof of his desire not to renew. A provision in any such contracts
determining a specific sum to be paid by the member as liquidated dam-
ages for breach of said contract shall be valid. The association in the
event of a breach or threatened breach of any such contract by a member
shall be entitled to an injunction to prevent the breach or further breach
thereof and to a decree for specific performance thereof.

B. Any association organized under this sub-title may provide that its
common stock or membership shall be sold only to persons designated or