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§ 5-507. Conversion to 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, § 5-507
§ 5-507. Conversion to cooperative
Currentness
Conversion
(a) Any Maryland corporation organized under the Maryland General Corporation Law1 which does or intends to do business on a cooperative basis may convert itself into a cooperative by amending and restating its charter in accordance with Title 2, Subtitle 6 of this article.
Requirements for articles
(b) The articles of amendment and restatement shall:
(1) State that the corporation elects to become a cooperative under this subtitle;
(2) Make every change in the charter necessary to become a cooperative; and
(3) Contain a complete restatement of the charter as amended.

Credits

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1976, c. 567, § 2.
Formerly Art. 23, § 374.

Footnotes

1
Corporations and Associations, § 1-101 et seq.
MD Code, Corporations and Associations, § 5-507, MD CORP & ASSNS § 5-507
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