§ 5–516
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 5-516 (2026)
Title 5. Special Types of Corporations
Subtitle 5. Agricultural Cooperatives
§ 5–516LinkCopy Citation
(a)
A cooperative may provide a fair remuneration for the time its officers and directors spend in its service.
(b)
During his term of office, a director may not be a party to a contract for profit with the cooperative if the contract differs in any way from the business relations with the cooperative accorded its other members.