2013 Maryland Code
§ 5-507 - Corporation may be converted into cooperative

MD Corp & Assn Code § 5-507 (2013) What's This?


(a) Any Maryland corporation organized under the Maryland General Corporation Law 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.

(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.

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