(610 ILCS 5/11) (from Ch. 114, par. 11)
Sec. 11.
In case it shall happen, at any time, that an election of
directors shall not be made on the day designated by the by-laws of such
corporation for that purpose, the corporation for such cause, shall not be
dissolved, if within ninety days thereafter the stockholders shall meet and
hold an election for directors in such manner as shall be provided by the
by-laws of such corporation: Provided, that it shall require a majority in
value of the stock of such corporation to elect any member of such board of
directors, and a majority of such board of directors shall be citizens and
residents of this state.
(Source: Laws 1871, p. 625.)
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