§ 5–507
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 5-507 (2026)
Title 5. Special Types of Corporations
Subtitle 5. Agricultural Cooperatives
§ 5–507LinkCopy Citation
(a)
Any Maryland corporation organized under the Maryland General Corporation Law which does or intends to do business on a cooperative basis may convert itself into a cooperative by amending and restating its charter in accordance with Title 2, Subtitle 6 of this article.
(b)
The articles of amendment and restatement shall:
(1)
State that the corporation elects to become a cooperative under this subtitle;
(2)
Make every change in the charter necessary to become a cooperative; and
(3)
Contain a complete restatement of the charter as amended.