Within eighteen months of a co-op filing its’ Articles of Incorporation, the bylaws of the co-op must be approved by the members of the co-op and filed with the Registrar.
Bylaws are generally developed by the incorporators of the co-op and set out the framework of the cooperative. They clearly set out the rules and procedures under which the co-op will operate. Each member of the co-op should be aware of the bylaws and be familiar with them.
While there are several mandatory provisions that must be included, as long as the provisions don’t contravene the Cooperatives Act, they can be very flexible and include provisions that may be specific to your co-op. Sample bylaws can be obtained from the Registrar’s Office or found online.
If you need help with your co-op’s bylaws please contact us.