Maryland Corporations and Associations Section 5-6B-18.5

Article - Corporations and Associations

§ 5-6B-18.5.

      (a)      (1)      Except as provided in paragraph (2) of this subsection, all books and records kept by or on behalf of a cooperative housing corporation shall be made available for examination and copying by a member, a member's mortgagee, and their respective duly authorized agents or attorneys, during normal business hours, and after reasonable notice.

            (2)      Books and records kept by or on behalf of a cooperative housing corporation may be withheld from public inspection to the extent that they concern:

                  (i)      Personnel records;

                  (ii)      An individual's medical records;

                  (iii)      An individual's financial records;

                  (iv)      Records relating to business transactions that are currently in negotiation;

                  (v)      The written advice of legal counsel; or

                  (vi)      Minutes of a closed meeting of the board of directors or other governing body of the cooperative housing corporation.

      (b)      The cooperative housing corporation may impose a reasonable charge on a person desiring to review or copy the books and records.



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