(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.
Structure Maryland Statutes
Title 5 - Special Types of Corporations
Subtitle 5A - Maryland Consumer Cooperative Act
Section 5-5A-01 - Applicability of Subtitle
Section 5-5A-03 - Incorporation of Consumer or Federated Cooperative; Permissible Business Activity
Section 5-5A-04 - Number Required for Incorporation
Section 5-5A-05 - Formation of Cooperative; Evidence of Membership Interest
Section 5-5A-06 - General Powers
Section 5-5A-07 - Contents of Articles of Incorporation or Bylaws
Section 5-5A-09 - Conversion of Corporation Into Consumer Cooperative; Adoption of Name
Section 5-5A-10 - Use of Word "Cooperative" in Conducting Business
Section 5-5A-12 - Management of Cooperative; Number and Qualifications of Directors
Section 5-5A-13 - Original Directors; Election and Term of Successors
Section 5-5A-14 - Bylaws Provision for Election of Directors and Delegates of Members
Section 5-5A-16 - Removal of Directors, Officers, and Delegates
Section 5-5A-17 - Remuneration of Officers and Directors
Section 5-5A-18 - Eligibility for Membership
Section 5-5A-19 - Meetings; Quorum
Section 5-5A-21 - Amendments to Articles of Incorporation; Action on Bylaws
Section 5-5A-22 - Apportionment of Net Savings
Section 5-5A-23 - Auditing; Annual Report
Section 5-5A-24 - Consolidation, Merger, Transfer of Assets, Dissolution, or Division
Section 5-5A-26 - Applicability of Subtitle
Section 5-5A-27 - Organization of Economic Activity Under Subtitle Not Cause of Illegality in Itself
Section 5-5A-28 - Evidence of Membership Capital Not Security