It is enacted by the General Assembly as follows:

SECTION 1. Section 7-1.1-26 of the General Laws in Chapter 7-1.1 entitled "Business Corporations" is hereby amended to read as follows:

7-1.1-26. Meetings of shareholders. -- (a) Meetings of shareholders may be held at such place, either within or without this state, as may be stated in or fixed in accordance with the bylaws. If no other place is stated or so fixed, all meetings annual meeting of shareholders shall be held at such time as may be stated or fixed in accordance with the bylaws. Failure to hold the annual meeting at the designated time shall not work a forfeiture or dissolution of the corporation. If the annual meeting is not held within any thirteen month period the superior court may, in its discretion, on the application of any shareholder, summarily order a meeting to be held.

(b) Special meetings of the shareholders may be called by the president, the board of directors, {ADD or by such person or persons as may be authorized by the ADD} the holders of not less than one-tenth (1/10) of all the shares entitled to vote at the meeting, or such other officers or persons as may be provided in the articles of incorporation or {ADD by ADD} the bylaws.

(c) Upon the application of any shareholder, director, or person aggrieved, the superior court for the county where the principal office of the corporation is located, shall forthwith hear and determine the validity of any election or appointment of any director or officer of a corporation and the right of any person to hold the office, and, if any office is claimed by more than one person, determine the person entitled thereto, and to that end shall determine the voting and other rights of persons claiming the same in respect of such election or appointment, and confirm the election or appointment, order a new election, or direct such other relief as may be just and proper.

SECTION 2. This act shall take effect upon passage.