(a) (1) Any entity operating on a cooperative basis as of the effective date of this subtitle may elect to secure the benefits of and be bound by this subtitle.
(2) If the entity elects to secure the benefits of this subtitle, it shall amend its articles and bylaws to conform with this subtitle.
(3) Consumer cooperatives organized before July 1, 1985, shall be considered to be in compliance, except that any subsequent amendments to their articles of incorporation or bylaws shall conform to this subtitle.
(b) All consumer cooperatives organized on or after July 1, 1985, shall conform to this subtitle.
Structure Maryland Statutes
Title 5 - Special Types of Corporations
Subtitle 5A - Maryland Consumer Cooperative Act
Section 5-5A-01 - Applicability of Subtitle
Section 5-5A-03 - Incorporation of Consumer or Federated Cooperative; Permissible Business Activity
Section 5-5A-04 - Number Required for Incorporation
Section 5-5A-05 - Formation of Cooperative; Evidence of Membership Interest
Section 5-5A-06 - General Powers
Section 5-5A-07 - Contents of Articles of Incorporation or Bylaws
Section 5-5A-09 - Conversion of Corporation Into Consumer Cooperative; Adoption of Name
Section 5-5A-10 - Use of Word "Cooperative" in Conducting Business
Section 5-5A-12 - Management of Cooperative; Number and Qualifications of Directors
Section 5-5A-13 - Original Directors; Election and Term of Successors
Section 5-5A-14 - Bylaws Provision for Election of Directors and Delegates of Members
Section 5-5A-16 - Removal of Directors, Officers, and Delegates
Section 5-5A-17 - Remuneration of Officers and Directors
Section 5-5A-18 - Eligibility for Membership
Section 5-5A-19 - Meetings; Quorum
Section 5-5A-21 - Amendments to Articles of Incorporation; Action on Bylaws
Section 5-5A-22 - Apportionment of Net Savings
Section 5-5A-23 - Auditing; Annual Report
Section 5-5A-24 - Consolidation, Merger, Transfer of Assets, Dissolution, or Division
Section 5-5A-26 - Applicability of Subtitle
Section 5-5A-27 - Organization of Economic Activity Under Subtitle Not Cause of Illegality in Itself
Section 5-5A-28 - Evidence of Membership Capital Not Security