7-3-601. Town meeting form. (1) The town meeting form consists of an assembly of the qualified electors of a town, known as a "town meeting", an elected town presiding officer, who must be a qualified elector, and an optional elected town meeting moderator.

(2) The town meeting form may be adopted only by incorporated cities of less than 2,000 persons and incorporated towns of less than 2,000 persons, as determined by the most recent decennial census as conducted by the United States bureau of the census unless a more recent enumeration of inhabitants is made by the state, in which case that enumeration must be used for the purposes of this part. A unit of local government that adopts this form may retain it even though its population increases to more than 2,000.

(3) All legislative powers of the town vest in the town meeting. The town meeting may enact rules, resolutions, and ordinances.