Sec. 251.053.  BYLAWS.  (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of formation or bylaws of a cooperative association require a greater majority, the bylaws may be adopted, amended, or repealed by a majority vote of the cooperative association's members voting on the matter.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.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.