35-15-503. Meeting to consider plan -- notice. (1) Notice of the proposed plan and, in the case of consolidation, of the proposed new articles must be mailed or sent by electronic means to each stockholder of the associations to be affected by the proposed plan or the proposed new articles.

(2) The notice must advise the stockholders of each association of the time and place each association shall meet, at which time the proposal must be considered and voted on by each association. The meetings must be held not less than 30 or more than 60 days after the mailing of notice. The plan must be considered adopted if a quorum is present and two-thirds of those voting vote in its favor.