1660 LAWS OF MARYLAND. [CH. 907

ing. If mailed, such notice shall be deemed to be given when
deposited in the United States mail with postage prepaid
addressed to the member at his address as it appears on the
records of the cooperative.

(d) Unless the by-laws prescribe the presence of a greater
percentage or number of the members for a quorum, a quorum
for the transaction of business at all meetings of the members
of a cooperative having not more than 1, 000 members, shall be
five per centum of all members, present in person, and of a
cooperative having more than 1, 000 members, shall be fifty
members, present in person. If less than a quorum is present
at any meeting, a majority of those present in person may
adjourn the meeting from time to time without further notice.

(e) Each member shall be entitled to one vote on each
matter submitted to a vote at a meeting of the members.
Voting shall be in person, but, if the by-laws so provide, may
also be by proxy or by mail, or both. If the by-laws provide
for voting by proxy or by mail, they shall also prescribe the
conditions under which such voting shall be permitted. No
person shall vote as proxy for more than three members at
any meeting of the members.

470. Waiver of Notice. Any person entitled to notice of a
meeting may waive such notice in writing either before or
after such meeting. If any such person shall attend such
meeting, such attendance shall constitute a waiver of notice
of such meeting, unless such person participate therein solely
to object to the transaction of any business because the meet-
ing has not been legally called or convened.

471. Board of Directors, (a) The business of a cooperative
shall be managed by a board of not less than five directors,
each of whom shall be a member of the cooperative or of
another cooperative which is a member thereof. The by-laws
shall prescribe the number of directors, their qualifications,
other than those prescribed in this sub-heading, the manner of
holding meetings of the board of directors and of electing suc-
cessors to directors who shall resign, die, or otherwise be
incapable of acting. The by-laws may also provide for the
removal of directors from office and for the election of their
successors. Directors shall not receive any salaries for their
services as directors and, except in emergencies, shall not be
employed by the cooperative in any capacity involving com-
pensation without the approval of the members. The by-
laws, provide that a fixed fee and expenses of attendance may
be allowed to reach director for attendance at each meeting
of the board of directors.