Section 5-611 - Bylaws. - Maryland Statutes

§ 5-611. Bylaws.
 

(a)  Initial bylaws.- The board of directors shall adopt the initial bylaws of a cooperative after an incorporation, conversion, merger, or consolidation. 

(b)  Amendment or repeal of bylaws.- 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)  Contents of bylaws.- 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. 
 

[2002, ch. 135, § 3.]