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§ 5-5A-21. Amendments to articles of incorporation

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-21
§ 5-5A-21. Amendments to articles of incorporation
Currentness
In general
(a)(1) Amendments to the articles of incorporation may be proposed by a two-thirds vote of the board of directors, by one-third of the delegates present and voting, or by petition of 10 percent of the cooperative's members.
(2) Notice of the meeting to consider amendments shall be sent by the secretary at least 30 days before the meeting to each member at the member's last known address, accompanied by the full text of the proposal and by that part of the articles to be amended.
(3) Two-thirds of the members voting may adopt that amendment. The power to amend the articles of incorporation is reserved to the members.
Vote
(b) Bylaws shall be adopted, amended or repealed by at least a majority vote of the members voting. If the cooperative has adopted a delegate system, the bylaws may be amended by two-thirds of those delegates present and voting.

Credits

Added by Acts 1985, c. 739.
MD Code, Corporations and Associations, § 5-5A-21, MD CORP & ASSNS § 5-5A-21
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.
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