Maryland Code, Corporations and Associations § 5-652

(a)(1) Without authorization by the members and on the conditions the board of directors determines, the board of directors of a cooperative may authorize the execution and delivery of a mortgage or deed of trust of, or the pledging or encumbering of, any or all of the assets of the cooperative, whether acquired or to be acquired, and wherever located, and the revenues and income from the assets, to secure any indebtedness of the cooperative to:

(2) A loan described in paragraph (1) of this subsection is not subject to § 4-106(b) of the Real Property Article.

(b)(1) A cooperative may not sell, lease, or otherwise dispose of all or a substantial portion of its assets unless:

(2) Notwithstanding any other provision of law, on the authorization of a majority of the members of the cooperative present at a meeting of the members, the board of directors may sell, lease, or otherwise dispose of all or a substantial portion of its assets to: