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2013 Maryland Code
CORPORATIONS AND ASSOCIATIONS
§ 5-611 - Bylaws


MD Corp & Assn Code § 5-611 (2013) What's This?

§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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