2017 New Mexico Statutes
Chapter 53 - Corporations
Article 4 - Cooperative Associations
Section 53-4-9 - Contents of by-laws bylaws.
53-4-9. Contents of by-laws [bylaws].
The by-laws [bylaws] may, within the limitations set forth herein provide for:
A. the method and terms of admission to membership and the disposal of members' interests on cessation of membership for any reason;
B. the time, place and manner of calling and conducting meetings;
C. the number or percentage of the members constituting a quorum;
D. the number, qualifications, powers, duties, term of office, and manner, time and vote for election, of directors and officers; and the classification, if any, of directors;
E. the compensation, if any, of the directors, and the number of directors necessary to constitute a quorum;
F. the method of distributing the net savings;
G. the various discretionary provisions herein as well as other provisions incident to the purposes and activities of the association.
History: Laws 1939, ch. 164, 9; 1941 Comp., 54-1409; 1953 Comp., 51-15-9.
