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2023 Maryland Statutes
Corporations and Associations
Title 5 - Special Types of Corporations
Subtitle 5 - Agricultural Cooperatives
Section 5-522 - Contracts With Members
Universal Citation:
MD Corporations and Associations Code § 5-522 (2023)
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(a) If otherwise lawful, a member may contract with his cooperative to sell his products to or through or buy goods from or through the cooperative or its facilities.
(b) The contract may be made self-renewing for periods up to five years, subject to notice to be given by either party at least 60 days before the contract expires if he desires not to renew.
(c) The contract may provide for liquidated damages to be paid by the member for breach of contract.
(d) In the event of a breach or threatened breach of the contract by a member, the cooperative may obtain an injunction to prevent the breach and a decree for specific performance of the contract.
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