32-2-210. Proxies. At least once every year the board of directors of every building and loan association shall, by resolution, cause the secretary of the association to mail to every member or stockholder of the association a blank form of proxy, and the member or stockholder may withdraw a former proxy and substitute a new proxy for the former proxy. A proxy continues in force and is binding upon the member or stockholder until the proxy is revoked or another proxy is substituted.