Maryland Corporations and Associations Section 5-611

Article - Corporations and Associations

§ 5-611.

      (a)      The board of directors shall adopt the initial bylaws of a cooperative after an incorporation, conversion, merger, or consolidation.

      (b)      After adoption of the initial bylaws, the members shall adopt, amend, or repeal the bylaws by the affirmative vote of a majority of the members voting on the matter at a meeting of the members.

      (c)      The bylaws:

            (1)      Shall state the rights and duties of members and directors; and

            (2)      May contain other provisions for the regulation and management of the affairs of the cooperative that are consistent with this subtitle and the articles of incorporation.



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