                                 CODE OF VIRGINIA

BYLAWS (§ 56-231.42)

The original bylaws of a cooperative shall be adopted by the members of such
cooperative. Thereafter, such cooperative&#8217;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&#8217;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&#8217;s nonprofit
character.

HISTORY: 1999, c. 874.