Section 1. Dissolution.
The dissolution of the College may be authorized in the following manner:
The Board of Directors shall adopt a resolution, which shall be with or without their recommendation, proposing that the College be dissolved voluntarily, and directing that the question of such dissolution be submitted to a vote at a meeting of the members, which meeting may be either an annual or special meeting.
Written notice stating that the purpose, or one of the purposes, of the meeting is to consider the voluntary dissolution of the College, shall be given to each member entitled to vote within the time and in the manner provided in these bylaws for the giving of notice of meetings of members. If such meeting be an annual meeting, such purpose may be included in the notice of such annual meeting.
At such meeting at which a quorum is present, a vote of the members shall be taken on the resolution to dissolve the College voluntarily. The resolution shall be adopted by receiving the affirmative vote of at least two-thirds (2/3) of the votes present and voted either in person or by proxy.