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Maryland Code, Corporations and Associations § 5-507

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Any Maryland corporation organized under the Maryland General Corporation Law  1 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.

1 Corporations and Associations, § 1-101 et seq.
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Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 5-507 - last updated January 01, 2025 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-5-507/

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