§ 5-650. Revenues of cooperative
West's Annotated Code of MarylandCorporations and AssociationsEffective: May 8, 2020
Effective: May 8, 2020
MD Code, Corporations and Associations, § 5-650
Formerly cited as Corporations and Associations 5-638
§ 5-650. Revenues of cooperative
(a) Revenues of a cooperative for a fiscal year may be used:
(b)(1) Unless otherwise determined by a vote of the members of the cooperative, for each fiscal year, the revenues of a cooperative in excess of the amount necessary to provide for the items described in subsection (a) of this section shall be allocated by the cooperative, in the form of patronage credits, to:
Credits
Added as Corporations and Associations § 5-638 by Acts 2002, c. 135, § 3, eff. Oct. 1, 2002. Renumbered as Corporations and Associations 5-650 by Acts 2020, c. 606, § 1, eff. May 8, 2020.
MD Code, Corporations and Associations, § 5-650, MD CORP & ASSNS § 5-650
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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