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§ 5-611. 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 6. Electric Cooperatives
Part II. Formation and Powers
MD Code, Corporations and Associations, § 5-611
§ 5-611. Bylaws
Currentness
Initial bylaws
(a) The board of directors shall adopt the initial bylaws of a cooperative after an incorporation, conversion, merger, or consolidation.
Amendment or repeal of bylaws
(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.
Contents of bylaws
(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.

Credits

Added by Acts 2002, c. 135, § 3, eff. Oct. 1, 2002.
MD Code, Corporations and Associations, § 5-611, MD CORP & ASSNS § 5-611
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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