- (a) Within 30 days after the Department accepts for record the articles of incorporation of a cooperative or the articles of amendment and restatement of a corporation converting into a cooperative, the cooperative shall adopt bylaws not inconsistent with law or its charter for the regulation and management of its affairs.
- (b) The bylaws of a cooperative may be adopted, altered, amended, or repealed only by the affirmative vote of two thirds of the members voting in person or by mail.
- (c) The original or a certified copy of the bylaws and all amendments shall be kept at the principal office of the cooperative.
Added by Acts 1975, c. 311, § 2, eff. July 1, 1975.
Formerly Art. 23, § 359.