At the stated meeting for the election of officers, trustees, directors or managers, an attendance of a majority of the persons entitled to vote at the meeting shall not be necessary for a quorum. A failure to elect on the day designated for the meeting sh all not dissolve a company, but the election may be held on a subsequent day on the same notice as required for the stated meeting. A newspaper publication of a bylaw regulating an election shall not be necessary to its validity.
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