Healthy cooperatives are always evolving and part of that is reviewing and updating to keep up with the changing times.
The only problem is that understanding when it’s time to update your bylaws can be difficult. Luckily, we’ve identified some of the tell-tale signs that show if your cooperative is in dire need of an update.
One of the apparent signs is the lack of a bylaw committee. A well-rounded bylaw committee represents your membership demographics, reflecting diversity in ages, skill sets, and more. Committee members should understand current trends, technologies, and how updates can help the organization improve costs and convenience for members.
Another clear sign is if the bylaws haven’t been updated or amended in a while. Regular reviews and updates can help eliminate antiquated, unnecessary bylaws, while keeping the cooperative from falling behind.
Just remember, amendments and updates to the bylaws and election policies might require member approval, so establish or follow established procedures and timelines to assure everything is legitimate and lawful.
Be sure to consult an attorney early in the process and keep them involved. They’ll ensure your bylaws and updates are consistent and written to the letter of the law. State statutes overrule any organization’s bylaws, so it is crucial to work with legal counsel to be 100 percent certain bylaws are in legal compliance.
Interested in learning more about how your cooperative can take the next step in updating its bylaws? Contact us today, we’re here to help!
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