§ 17-10-212 — Bylaws

Wyoming § 17-10-212

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 10: COOPERATIVE MARKETING ASSOCIATIONS
• Art. 2: PROCESSING COOPERATIVE

Text

(a) A cooperative shall have bylaws governing the
cooperative's business affairs, structure, the qualifications,
classification, rights and obligations of members, and the
classifications, allocations and distributions of membership
interests.
(b) The bylaws of a cooperative may be adopted or amended
by the directors as provided in subsection (c) of this section,
or at a regular or special members' meeting if:
(i) The notice of the meeting contains a statement
that the bylaws or restated bylaws will be voted upon and copies
are included with the notice, or copies are available upon
request from the cooperative and summary statement of the
proposed bylaws or amendment is included with the notice;
(ii) A quorum is registered as being present or
represented by mail or alternative voting method if the mail or
alternative voting method is authorized by the board; and
(iii) The bylaws or amendment is approved by a
majority vote cast, or for a cooperative with articles or bylaws
requiring more than majority approval or other conditions for
approval, the bylaws or amendment is approved by a proportion of
the vote cast or a number of the total members as required by
the articles or bylaws and the conditions for approval in the
articles or bylaws have been satisfied.
(c) Until the next annual or special members' meeting, the
majority of directors may adopt and amend bylaws for the
cooperative that are consistent with subsection (d) of this
section which may be further amended or repealed by the members
at an annual or special members' meeting.
(d) Bylaws may contain any provision relating to the
management or regulation of the affairs of the cooperative that
are not inconsistent with law or the articles, and shall include
the following:
(i) The number of directors, and the qualifications,
manner of election, powers, duties, and compensation, if any, of
directors;
(ii) The qualifications of members and any
limitations on their number;
(iii) The manner of admission, withdrawal,
suspensions, and expulsion of members;
(iv) Generally the governance rights, financial
rights, assignability of governance and financial rights, and
other rights, privileges and obligations of members and their
membership interests, which may be further described in member
control agreements.