17-1512. Bylaws and regulations.
17-1512
17-1512. Bylaws and regulations.
Each corporation shall formulate bylaws prescribing the duties of the
directors and officials; the manner of distributing the profits of its
business; the manner of becoming a member; and such other rules and
instructions to its officials and members as will tend to make the
corporation an effective business organization.
History: L. 1913, ch. 137, § 8; R.S. 1923, 17-1512.