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§ 5-5A-12. Number and qualifications of directors

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 5a. Maryland Consumer Cooperative Act
MD Code, Corporations and Associations, § 5-5A-12
§ 5-5A-12. Number and qualifications of directors
Management of cooperative
(a) The business and affairs of a cooperative shall be managed under the direction of a board of directors. Every cooperative shall have at least 5 directors.
Residency requirements of directors
(b) Except in the case of foreign cooperatives, at least 2 of the directors shall be residents of this State.
Directors shall be members of cooperative
(c) Each director shall be a member of the cooperative or of a member cooperative.

Credits

Added by Acts 1985, c. 739.
MD Code, Corporations and Associations, § 5-5A-12, MD CORP & ASSNS § 5-5A-12
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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