Home Table of Contents

§ 5-503. Persons who may organize cooperative

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 5. Special Types of Corporations (Refs & Annos)
Subtitle 5. Agricultural Cooperatives
MD Code, Corporations and Associations, § 5-503
§ 5-503. Persons who may organize cooperative
Currentness
Who may organize
(a) A cooperative may be organized by:
(1) Five or more adult individuals acting as incorporators, at least two of whom are residents of the State and each of whom is engaged in:
(i) The production of agricultural products as a farmer, planter, rancher, dairyman, bee keeper, or nut or fruit grower; or
(ii) The catching, taking, harvesting, cultivating, farming, propagating, processing, marketing, or distributing of fishery products, including fish, shellfish, crustacea, seaweed, and other aquatic forms of animal and vegetable life or their products or by-products; or
(2) Two or more cooperatives acting as incorporators.
Capital stock
(b) The cooperative may be organized with or without capital stock for any of the purposes enumerated in this subtitle.

Credits

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975.
Formerly Art. 23, § 351.
MD Code, Corporations and Associations, § 5-503, MD CORP & ASSNS § 5-503
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document