(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.
Structure Maryland Statutes
Title 5 - Special Types of Corporations
Subtitle 5 - Agricultural Cooperatives
Section 5-502 - Purposes of Incorporation
Section 5-503 - Who May Incorporate; Capital Stock
Section 5-504 - Powers in General
Section 5-505 - Articles of Incorporation -- Execution; Contents
Section 5-506 - Articles of Incorporation -- Amendment
Section 5-507 - Corporation May Be Converted Into Cooperative
Section 5-509 - Payment by Subscriber Before Certificate of Stock or Membership Issued
Section 5-510 - Use of Term "Cooperative" in Corporate Name
Section 5-512 - Management of Cooperative; Number and Qualifications of Directors
Section 5-513 - Original Directors; Election and Term of Successors
Section 5-514 - Election of Directors by Districts
Section 5-515 - Vacancies on Board of Directors
Section 5-516 - Compensation and Contracts of Officers and Directors
Section 5-517 - Required and Permitted Officers
Section 5-518 - Removal of Director and Officer
Section 5-522 - Contracts With Members
Section 5-523 - Membership in Another Cooperative
Section 5-524 - Transactions With Other Cooperatives
Section 5-525 - Patronage Distributions
Section 5-526 - Operating on Nonprofit Basis
Section 5-527 - Consolidation, Merger, Share Exchange, Transfer of Assets, or Dissolution
Section 5-528 - Payment When Another Business Is Purchased
Section 5-529 - Audit of Financial Statement of Cooperative Handling Raw Agricultural Products
Section 5-530 - Cooperative and Marketing Agreements Not in Restraint of Trade
Section 5-531 - Application of Maryland General Corporation Law