17-4608.   Bylaws.The board of trustees shall adopt the first bylaws of a cooperative tobe adopted following an incorporation, conversion, merger or consolidation.Thereafter the members shall adopt, amend or repeal the bylaws by theaffirmative vote of a majority of those members voting thereon at a meetingof the members. The bylaws shall set forth the rights and duties of membersand trustees and may contain other provisions for the regulation andmanagement of the affairs of the cooperative not inconsistent with thisact or with its articles of incorporation.

      History:   L. 1941, ch. 185, § 8; June 30.