(a) The board of directors of an institution may, except as otherwise provided in its by-laws, fix a date for the determination of the shareholders entitled to receive notice of and to vote at any meeting or to receive any dividend, distribution or allotment of rights or a date for any change, conversion or exchange of shares by:

(b) If no date for determination of shareholders of record is fixed by the by-laws or pursuant to subsection (a) of this section, transferees of shares which are transferred on the books of the institution within ten days of the date of a meeting of shareholders shall not be entitled to receive notice of, or to vote at, the meeting.