40-23-10. Adoption of bylaws--Amendment.
Each association incorporated under this chapter shall within thirty days after its incorporation, adopt, by majority vote of its members, for its government and management, a code of bylaws, not inconsistent with the powers granted under this chapter. Such bylaws may be altered or amended by any meeting of the members, regularly called, by a two-thirds vote of the members present.
Source: SDC 1939, §40.1805.