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§ 5-5A-11. Adoption and amendment of bylaws

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 5. Special Types of Corporations (Refs & Annos)
Subtitle 5a. Maryland Consumer Cooperative Act
MD Code, Corporations and Associations, § 5-5A-11
§ 5-5A-11. Adoption and amendment of bylaws
In general
(a) Within 30 days after incorporation as a cooperative or within 30 days after the filing of articles of amendment and restatement of a corporation converting to a cooperative, the cooperative shall adopt bylaws not inconsistent with this subtitle for the regulation and management of its affairs.
Adoption by the temporary board
(b)(1) The initial bylaws of a cooperative may be adopted by the temporary board of directors.
(2)(i) Thereafter, bylaws may be adopted and amended only by the members, unless the members adopt a bylaw which permits the board of directors or delegates of the membership to adopt and amend specific bylaws.
(ii) Any bylaw adopted or amended by the board of directors or by delegates shall be reported at the next regular membership meeting.

Credits

Added by Acts 1985, c. 739.
MD Code, Corporations and Associations, § 5-5A-11, MD CORP & ASSNS § 5-5A-11
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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