(a) Whenever notice is required to be given under any provision of this chapter to any shareholder, the notice shall not be required to be given if:
(1) Notice of 2 consecutive annual meetings, and all notices of meetings during the period between such 2 consecutive annual meetings, have been sent to such shareholder at such shareholder’s address as shown on the records of the corporation and have been returned undeliverable; or
(2) All, but not less than 2, payments of dividends on securities during a 12-month period, or 2 consecutive payments of dividends on securities during a period of more than 12 months, have been sent to such shareholder at such shareholder’s address as shown on the records of the corporation and have been returned undeliverable.
(b) If any such shareholder delivers to the corporation a written notice setting forth the shareholder’s then-current address, the requirement that notice be given to the shareholder is reinstated.