2018 New Mexico Statutes
Chapter 53 - Corporations
Article 4 - Cooperative Associations
Section 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.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Cooperative Associations §§ 13 to 15; 18 Am. Jur. 2d Corporations §§ 17, 18; 18A Am. Jur. 2d Corporations §§ 310, 311, 314 to 318, 320, 321, 323, 325, 326, 331.
18 C.J.S. Corporations §§ 113 to 115; 43 C.J.S. Industrial Cooperative Societies § 4.
