Section 1174.- Whenever a requisition for the summoning of an extraordinary meeting is made by the shareholders according to the last preceding Section, the directors shall forthwith summon such meeting.

If the meeting is not summoned within thirty days aft

The date of the requisition, the requisitionists, or any other shareholders amounting to the required number, may themselves summon it.

 

Section 1175.- Notice of the summoning of every general meeting shall either be published at least twice in a local paper, not later than seven days before the date fixed for the meeting, or shall be sent by post not later than seven days before the date fixed for the meeting to every shareholder whose name appears in the register of shareholders.

The notice shall specify the place, the day and the hour of meeting and the nature of the business to be transacted.

 

Section 1176.- Every shareholder has the right to be present at any general meeting.

 

Section 1177.- Unless there are provisions to the contrary in the regulations of the company, the rules provided by the following Sections shall apply to general meetings.

 

Section 1178.- A general meeting may not transact any business unless shareholders representing at least one-fourth of the capital of the company are present.

 

Section 1179.- If within an hour from the time appointed for the general meeting the quorum prescribed by Section 1178 is not present, the meeting, if summoned upon the requisition of shareholders, shall be dissolved.

If the general meeting had not been summoned upon the requisition of shareholders, another general meeting shall be summoned within fourteen days and at such meeting no quorum shall be necessary.

 

Section 1180.- The chairman of the board of directors shall preside at every general meeting of shareholders.

If there is no such chairman, or if at any general meeting he is not present within fifteen minutes after the time appointed for holding the meeting, the shareholders present may elect one of their members to be chairman.

 

Section 1181.- The chairman may, with the consent of the meeting, adjourn any general meeting, but no business may be transacted at any adjourned meeting other than the business left unfinished at the original meeting.

 

Section 1182.- On a show of hands every shareholder present in person or represented by proxy shall have one vote. On a poll every shareholder shall have one vote for each share share of which he is the holder.