16-16-812. Action without meeting.
(1) Unless prohibited by the organic rules, any action that may be taken by a board of directors may be taken without a meeting if each director consents in a record to the action.
(2) Consent under Subsectionmay be withdrawn by a director in a record at any time before the limited cooperative association receives consent from all directors. (1)
(3) A record of consent for any action under Subsectionmay specify the effective date or time of the action. (1)