Ch. 117                           MARVIN MANDEL, Governor                               185

bylaws. HOWEVER, THE BOARD OF DIRECTORS BY RESOLUTION AT
LEAST NINETY DAYS PRIOR TO THE ANNUAL OR ANY SPECIAL
MEETING OF THE MEMBERS MAY AUTHORIZE BYLAW
AMENDMENTS BY MAIL BALLOT TO THE MEMBERS. APPROVAL OF
THE AMENDMENT OR AMENDMENTS REQUIRES A
THREE-FOURTHS MAJORITY OF THE BALLOTS RECEIVED FROM
THE MEMBERS QUALIFIED TO VOTE. THE SECRETARY SHALL
CAUSE PRINTED BALLOTS INDICATING THE OLD BYLAW AND THE
NEW PROPOSED BYLAW TO BE MAILED TO ALL MEMBERS OF THE
CREDIT UNION WHO ARE ELIGIBLE TO VOTE, AT LEAST TWENTY
DAYS PRIOR TO. THE ANNUAL OR ANY SPECIAL MEETING OF THE
MEMBERS. BALLOTS RETURNED TO THE CREDIT UNION MUST BE
POSTMARKED NO LATER THAN MIDNIGHT OF THE SEVENTH DAY
PRIOR TO THE DATE OF THE ANNUAL OR ANY SPECIAL MEETING
AND RECEIVED BY THE CREDIT UNION NO LATER THAN
MIDNIGHT OF THE FIFTH DAY PRIOR TO THE DATE OF THE
ANNUAL OR ANY SPECIAL MEETING.

(B) THE BOARD OF DIRECTORS, BY RESOLUTION POSTED IN A
CONSPICUOUS PLACE IN THE PRINCIPAL OFFICE OF THE CREDIT
UNION, AT LEAST NINETY DAYS PRIOR TO THE ANNUAL MEETING
OF THE MEMBERS, MAY AUTHORIZE THE CONDUCT OF ELECTIONS
AT THE ANNUAL MEETING OF THE MEMBERS BY MAILED BALLOTS
AS THE EXCLUSIVE PROCEDURE FOR VOTING FOR DIRECTORS IN
THE FOLLOWING MANNER:

(1)  AT LEAST SIXTY DAYS PRIOR TO THE ANNUAL MEETING THE
PRESIDENT SHALL APPOINT A NOMINATING COMMITTEE OF NOT
FEWER THAN THREE MEMBERS. IT IS THE DUTY OF THE
NOMINATING COMMITTEE TO NOMINATE AT LEAST ONE MEMBER
FOR EACH VACANCY ON THE BOARD OF DIRECTORS AND FILE ITS
NOMINATIONS WITH THE SECRETARY OF THE CREDIT UNION AT
LEAST FORTY-FIVE DAYS PRIOR TO THE ANNUAL MEETING, AND
THE SECRETARY SHALL CAUSE THE NOMINATIONS TO BE POSTED
IN A CONSPICUOUS PLACE IN THE CREDIT UNION OFFICE AT
LEAST FORTY DAYS PRIOR TO THE ANNUAL MEETING. PRIOR TO
FILING THE NOMINATIONS WITH THE SECRETARY, THE
NOMINATING COMMITTEE SHALL DETERMINE IF THE MEMBERS
NOMINATED ARE AGREEABLE TO PLACING THEIR NAMES IN
NOMINATION AND WILL ACCEPT OFFICE IF ELECTED.

(2)   NOMINATIONS FOR VACANCIES ALSO MAY BE MADE BY
PETITION SIGNED BY AT LEAST TWENTY MEMBERS OR FIVE
PERCENT OF THE MEMBERSHIP, WHICHEVER IS SMALLER. TO BE
EFFECTIVE, THESE NOMINATIONS SHALL BE ACCOMPANIED BY A
CERTIFICATE FROM THE NOMINEE OR NOMINEES STATING HE OR
THEY ARE AGREEABLE TO NOMINATION AND WILL SERVE IF
ELECTED TO OFFICE. THESE NOMINATIONS SHALL BE FILED WITH
THE SECRETARY OF THE CREDIT UNION AT LEAST THIRTY DAYS
PRIOR TO THE ANNUAL MEETING, AND THE SECRETARY SHALL
CAUSE THE NOMINATIONS TO BE POSTED IN A CONSPICUOUS
PLACE IN THE CREDIT UNION OFFICE AT LEAST TWENTY DAYS
PRIOR TO THE ANNUAL MEETING.

(3)  THE TELLERS OF THE ELECTION SHALL BE APPOINTED BY
THE BOARD OF DIRECTORS.