13. The decisions of the board of directors of the landholding corporation relating to the subject matters contemplated in sections 25, 28, 29, 37, 38, 41, 43, 48, 53, 56, 58, 116, 120, 128, 129, 135, 140, 145, 191.9, 191.12, 191.13, 191.21, 191.22, 191.25, 191.27, 191.31, 191.35, 191.38 and 191.40 shall be submitted for approval to the members of the corporation.
Rights granted pursuant to section 25, 116 or 191.9 for a five year term or less shall not be subject to the approval of the members of the corporation.
The board of directors shall, by by-law, determine the terms and conditions for approval by the members. This by-law shall be submitted for approval to the members at a special general meeting called for this purpose and be ratified by a vote of at least 65% of the members of the age of majority present and having voted on this by-law.
1978, c. 93, s. 13; 1979, c. 25, s. 25.