SECTION 85:25-3-24. Approval of amendments to articles of incorporation and by-laws

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Prior to action upon or approval of amendments to association By-laws or Articles of Incorporation, the Commissioner may require from the association's counsel an opinion that the proposed amendment conforms to all applicable Federal and State laws and regulations, or where the proposed change is not specifically covered by such Federal and State laws and regulations, an opinion wherein the authority for such proposed change may be implied.

[Source: Transferred from 625:10-3-5 (see Editor’s Note at beginning of this Chapter)]

                    
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