§ 5–526
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 5-526 (2026)
Title 5. Special Types of Corporations
Subtitle 5. Agricultural Cooperatives
§ 5–526LinkCopy Citation
(a)
(1)
A cooperative may operate as an agent to sell the products of its members or nonmember patrons on a nonprofit basis by contracting to pay the members or nonmember patrons the resale price for products sold by them to or through the cooperative, less a uniform charge to cover the expenses involved in the handling of these products.
(2)
The resale price shall be:
(i)
The actual resale price; or
(ii)
A price based on the average price during any period for products of the same type and quality.
(3)
The uniform charge for expenses shall be:
(i)
Specified in the contract;
(ii)
Made otherwise ascertainable; or
(iii)
Left for determination by the directors.
(b)
A cooperative desiring to purchase goods or obtain or perform services under this subtitle may operate on a nonprofit basis in a manner similar to that described in this section.