54. Within four months after the end of each fiscal year of a cooperative association, its members shall be convened in an annual meeting to take communication of the annual report, decide upon the apportionment of the annual operating surplus, elect directors, appoint the auditor and decide any other matter relating to the association.
R. S. 1964, c. 292, s. 48; 1970, c. 58, s. 15.