§412:3-605 Notice to mutual savings and loan or credit union member; no right of dissent. (a) Wherever the approval of a transaction is required by this part by the members of a mutual savings and loan association or a credit union, notice of a [meeting] of its members, which may be an annual or a special [meeting,] shall be given to each member entitled to vote. The notice shall be provided not less than twenty days before the date of the meeting. The notice shall state that the purpose of the meeting is to vote upon a transaction covered by this part and shall be accompanied by a detailed description of the proposed transaction or a summary of the transaction and a copy of the plan of conversion, merger, consolidation, sale of assets or assumption of liabilities, or voluntary cessation of business and dissolution approved by the board of directors.

(b) A member of a mutual savings and loan association or credit union shall have no right of dissent under chapter 414 for any of the transactions governed by this part. [L 1993, c 350, pt of §1; am L 2002, c 40, §21]