HRS §412:3-605
Notice required for member vote on credit union transactions
When credit union members must approve a transaction, the credit union must send each voting member a notice of the meeting. The notice must arrive at least 20 days before the meeting and include details about the proposed transaction, such as a description or summary and a copy of the plan.
The statute, as written — Notice to credit union member
Wherever the approval of a transaction is required by this part by the members of a credit union, notice of a meeting of its members, which may be an annual or a special meeting, shall be given to each member entitled to vote. The notice shall be provided not less than twenty days before the date of the meeting. The notice shall state that the purpose or one of the purposes of the meeting is to vote upon a transaction covered by this part and shall be accompanied by a detailed description of the proposed transaction or a summary of the transaction and a copy of the plan of conversion, merger, consolidation, sale of assets or assumption of liabilities, or voluntary cessation of business and dissolution approved by the board of directors.
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