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§ 5-5A-26. Cooperatives organized before July 1, 1985, applicability

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-26
§ 5-5A-26. Cooperatives organized before July 1, 1985, applicability
In general
(a)(1) Any entity operating on a cooperative basis as of the effective date of this subtitle may elect to secure the benefits of and be bound by this subtitle.
(2) If the entity elects to secure the benefits of this subtitle, it shall amend its articles and bylaws to conform with this subtitle.
(3) Consumer cooperatives organized before July 1, 1985, shall be considered to be in compliance, except that any subsequent amendments to their articles of incorporation or bylaws shall conform to this subtitle.
Applicability
(b) All consumer cooperatives organized on or after July 1, 1985, shall conform to this subtitle.

Credits

Added by Acts 1985, c. 739.
MD Code, Corporations and Associations, § 5-5A-26, MD CORP & ASSNS § 5-5A-26
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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