Upon demand of one third of the entire board of directors any matter 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. A special meeting may be called for this purpose. HISTORY: 1962 Code Section 12-953; 1952 Code Section 12-953; 1942 Code Section 6514; 1932 Code Section 6514; Civ. C. '22 Section 3418; 1921 (32) 339.
South Carolina Legal Code