MARVIN MANDEL, Governor

373

provisions not inconsistent with this [subheading] ACT
deemed necessary or advisable for the conduct of its
business. Such articles shall be signed by each
incorporator and acknowledged by at least two of the
incorporators, or on their behalf, if they are
cooperatives. It shall not be necessary to recite in
the articles of incorporation of a cooperative the
purpose for which it is organized or any of its corporate
powers.

[386] 8. Bylaws.

The board of directors shall adopt the first bylaws
of a cooperative to be adopted following an
incorporation, conversion, merger or consolidation.
Thereafter the members shall adopt, amend or repeal the
bylaws by the affirmative vote of a majority of those
members voting thereon at a meeting of the members. The
bylaws shall set forth the rights and duties of members
and directors and may contain other provisions for the
regulation and management of the affairs of the
cooperative not inconsistent with this [subheading] ACT
or with its articles of incorporation.

[387] 9. Members.

Each incorporator of a cooperative shall be a member
thereof, but no other person may become a member thereof
unless such other person agrees to use electric energy or
other services furnished by the cooperative when they are
made available through its facilities. Any member of a
cooperative who agrees to use electric energy shall cease
to be a member if he does not use electric energy
supplied by the cooperative within six months after it is
made available to him or if electric energy is not made
available to him by the cooperative within two years
after he becomes a member, or such lesser period as the
bylaws of the cooperative may provide. A husband and
wife may hold a joint membership in a cooperative.
Membership in a cooperative shall not be transferable,
except as provided in the bylaws. The bylaws may
prescribe additional qualifications and limitations in
respect of membership.

[388] 10. Meetings.

(a)   Annual meeting. —An annual meeting of the
members of a cooperative shall be held at such time and
place as shall be provided in the bylaws.

(b)   Special meetings. —Special meetings of the
members may be called by the president, by the board of
directors, by any three directors, or by not less than
ten percentum of the members.

(c)  Notice. —Except as otherwise provided in this
[subheading] ACT, written or printed notice stating the
time and place of each meeting of the members and, in the