§ 5-611
99 words·~1 min read·
/md/corporations-and-associations/5-611·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§5–611.
(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.