§ 5–5A-12
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 5-5A-12 (2026)
Title 5. Special Types of Corporations
Subtitle 5A. Maryland Consumer Cooperative Act
§ 5–5A-12LinkCopy Citation
(a)
The business and affairs of a cooperative shall be managed under the direction of a board of directors. Every cooperative shall have at least 5 directors.
(b)
Except in the case of foreign cooperatives, at least 2 of the directors shall be residents of this State.
(c)
Each director shall be a member of the cooperative or of a member cooperative.