58-35-21Bylaws--Making and approval--Modification.

The initial board of directors of a farm mutual insurer shall adopt such bylaws as may be deemed necessary for the management of its affairs. The bylaws shall be subject to the approval of the insurer's members at their next succeeding meeting by a two-thirds vote of those present in person or, if authorized by the bylaws, by proxy. The members shall otherwise have the power to make, modify, and revoke bylaws.

Source: SL 1966, ch 111, ch 17, § 13.