(a) Unless the certificate of formation or bylaws of a cooperative association require a greater majority, the bylaws may be adopted, amended, or repealed by a majority vote of the cooperative association's members voting on the matter.(b) Except as provided by this code, the bylaws may contain:(1) requirements for admission to membership;(2) requirements for disposal of a member's interest on cessation of membership;(3) the time, place, and manner of calling and conducting meetings;(4) the number or percentage of the members constituting a quorum;(5) the number, qualifications, powers, duties, and term of directors and officers;(6) the method of electing, removing, and filling a vacancy of directors and officers;(7) the division or classification, if any, of directors to provide for staggered terms;(8) the compensation, if any, of the directors;(9) the number of directors necessary to constitute a quorum;(10) the method for distributing the net savings;(11) a requirement that each officer or employee of the cooperative association who handles funds or securities be bonded;(12) other discretionary provisions of this chapter, Title 1, and Chapters 20 and 22; and(13) any other provision incident to a purpose or activity of the cooperative association.Tex. Bus. Org. Code § 251.053
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.