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Texas Business Organizations Code - Section 251.053. Bylaws

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 251.053. Bylaws

§ 251.053. BYLAWS.  (a) Unless the certificate of 
formation or bylaws of a cooperative association require a greater 
majority, the bylaws may be adopted, amended, or repealed by a 
majority vote of the cooperative association's members voting on 
the matter.
	(b)  Except as provided by this code, the bylaws may contain:                  
		(1)  requirements for admission to membership;                                
		(2)  requirements for disposal of a member's interest 
on cessation of membership;
		(3)  the time, place, and manner of calling and 
conducting meetings;        
		(4)  the number or percentage of the members 
constituting a quorum;         
		(5)  the number, qualifications, powers, duties, and 
term of directors and officers;
		(6)  the method of electing, removing, and filling a 
vacancy of directors and officers;
		(7)  the division or classification, if any, of 
directors to provide for staggered terms;
		(8)  the compensation, if any, of the directors;                              
		(9)  the number of directors necessary to constitute a 
quorum;              
		(10)  the method for distributing the net savings;                            
		(11)  a requirement that each officer or employee of 
the cooperative association who handles funds or securities be 
bonded;
		(12)  other discretionary provisions of this chapter, 
Title 1, and Chapters 20 and 22;  and
		(13)  any other provision incident to a purpose or 
activity of the cooperative association.

Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.                     

Last modified: August 11, 2007