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Maryland Code, Corporations and Associations § 5-611

Current as of January 01, 2025 | Updated by Findlaw Staff

(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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Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 5-611 - last updated January 01, 2025 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-5-611/

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