Code of Virginia - Title 56 Public Service Companies - Section 56-231.42 Bylaws
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§ 56-231.42. Bylaws
The original bylaws of a cooperative shall be adopted by the members of such
cooperative. Thereafter, such cooperative's board shall adopt, amend, or
repeal the bylaws unless otherwise provided in the articles of incorporation
or bylaws, subject to the rights of the members to alter or repeal such
bylaws. The bylaws shall set forth the rights and duties of directors,
officers and members and other provisions for the regulation and management
of the affairs of the cooperative not inconsistent with this article, the
cooperative's articles of incorporation or other applicable law. The bylaws
shall contain provisions relative to the disposition of revenues and receipts
as may be necessary and appropriate to establish and maintain the
cooperative's nonprofit character.
(1999, c. 874.)
Sections: 56-231.35 56-231.36 56-231.37 56-231.38 56-231.39 56-231.40 56-231.41 56-231.42 56-231.43 56-231.44 56-231.45 56-231.46 56-231.47 56-231.48 56-231.49
Last modified: April 3, 2009
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