Upon demand of one third (1/3) of the entire board of directors, made immediately and so recorded at the same meeting at which the original motion was passed, any matter of policy that has been approved or passed by the board must be referred to the entire membership or the stockholders for decision at the next special or regular meeting; and a special meeting may be called for the purpose.
Tenn. Code Ann. § 43-16-132
Referendum of policy matters upon demand to entire membership
Known as the Cooperative Marketing Law
The act spans §§ 43-16-101 to 43-16-148 (48 sections).
Acts 1923, ch. 100, § 17; Shan
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.