Section 47-26-8 - Adoption of plan by corporation having no members entitled to vote

47-26-8. Adoption of plan by corporation having no members entitled to vote.Where there are no members, or no members entitled to vote thereon, a plan of distribution shall be adopted at a meeting of the board of directors upon receiving the vote of a majority of the directors in office. Source: SL 1965, ch 24, §49 (2).