274.090. Bylaws of association.

MISSOURI STATUTES AND CODES

274.090. Bylaws of association.

Bylaws of association.

274.090. 1. Each association incorporated under thischapter must, within thirty days after its incorporation, adoptfor its government and management, a code of bylaws, notinconsistent with the powers granted by this chapter. A majorityvote of the members voting thereon, or their written assent, isnecessary to adopt such bylaws. Each association, under itsbylaws, may provide for any or all of the following matters:

(1) The time, place and manner of calling and conducting itsmeetings;

(2) The number of members constituting a quorum;

(3) The right of members to vote by proxy or by mail or byboth; and the conditions, manner, form, and effect of such votes;and may provide for the representation of the members bydelegates at meetings, and if so, then the method ofapportionment of representation, the manner of the election orappointment of such delegates, the right of such delegates tovote by proxy or by mail or by both, and the condition, manner,form and effect of such votes;

(4) The number of directors constituting a quorum;

(5) The qualifications, compensation, duties and term ofoffice of directors and officers; the time of their election andthe mode and manner of giving notice thereof;

(6) Penalties for violation of the bylaws; the mode, mannerand vote required for amending the bylaws;

(7) The amount of entrance, organization and membershipfees, if any; the manner and method of collection of the same;and the purposes for which they may be used;

(8) The amount which each member shall be required to payannually or from time to time, if at all, to carry on thebusiness of the association;

(9) The charge, if any, to be paid by each member forservices rendered by the association to him and the time ofpayment and the manner of collection;

(10) The marketing contract between the association and itsmembers which every member may be required to sign;

(11) The number and qualifications of members of theassociation and the conditions precedent to membership;

(12) The method, time and manner of permitting members towithdraw;

(13) The manner of assignment of the interests of themembers;

(14) The conditions upon which and time when membership ofany member shall cease;

(15) The automatic suspension of the rights of a member whenhe ceases to be eligible to membership in the association;

(16) The mode, manner and effect of the expulsion of amember;

(17) The manner of determining the value of a member'sinterests and provision for its purchase by the association uponthe death or withdrawal of a member, or upon the expulsion of amember or forfeiture of his membership.

2. In case of death, withdrawal or expulsion of a member,the board of directors shall, when authorized by its membership,equitably and conclusively appraise his property interests in theassociation and shall fix the amount thereof in money, whichshall be paid to him, his legal representatives or assigns atsuch time as may be authorized by the board of directors, and inno event later than same would have been payable in the usualcourse of business, had such member continued his membership.