Every participating dentist under contract with a dental service corporation created under this Article shall be a member of such corporation. Annually the members in person or by proxy shall meet to conduct the business of the corporation. At each such annual meeting, or at any special meeting properly called as provided for in the bylaws of the corporation, each person who is a member shall have one vote and may exercise the privilege of voting on all matters brought before the membership. A simple majority of the votes cast shall be sufficient to carry all matters brought before the membership. If a majority of the directors at any time so decides, a matter may be submitted to a special meeting of the members of the corporation following such procedure as the corporation may provide for in its bylaws. At each annual meeting, the members shall vote to elect one-third (1/3) of the directors of the corporation. The directors shall be elected for terms of three (3) years in office. The directors shall elect the officers, who shall serve for one (1) year in office and thereafter until their successors are designated by the directors.
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