Article I- Name of Cooperative
Article IV-Power And Capacities
Article V-Term Of Existence
Article VI-Area of Operation
Article VII-Name and Address of Cooperators
Article VIII-common Bond and Field of membership
Article IX-Board of Directors
Article XI-Subscribed and paid-up share capital
Article XII-Arbitral clause
Article I- Purpose(s) And Goals
Article IV-Board of Directors
Article VI-Officers and management staff of the cooperative
Article VII-Capital Structure
Unlike Articles of Incorporation, Bylaws do not need to filed with the state. However, Bylaws are an important document that lays out how the cooperative is to be governed. The governing body (whether it consists of an elected Board of Directors or all members of a collective) must abide the Bylaws.
Typically, a cooperative’s Bylaws can only be changed by a democratic vote (or in some cases, consensus) of the membership. For this reason, cooperatives usually limit their Bylaws to fundamental governance-level issues. More specific operational procedures may be documented in policy manuals or handbooks, which can be changed as needed by Directors, (co-)managers, committee members, staff, or other bodies using approved decision-making processes.
Bylaws are organized into sections, and most sections are broken up into subsections. In this document, only the lengthier sections are broken up into subsections for ease of reading. However, shorter sections can benefit from being broken down as well. Bylaws can be easily referenced when numbers or letters are assigned to sections and subsections.
Visit our facebook page https://www.facebook.com/malligfstmpc/