§ 5-5A-11

Maryland § 5-5A-11

• Jurisdiction: Maryland
• Article gca: Corporations and Associations
• Title: 5

Text

(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.

(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.