Agricultural Cooperatives | Midpage

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Maryland Code

Corporations and Associations

5

Agricultural Cooperatives

State of Maryland

5-501Definitions 5-502Permissible purposes 5-503Persons who may organize cooperative 5-504General powers 5-505Contents of articles of incorporation 5-506Amendment of charter 5-507Conversion to cooperative 5-508Power over stock and membership 5-509Issuance of stock certificates 5-510Corporate name 5-511Adoption of bylaws 5-512Number and qualifications of directors 5-513Election and term of directors 5-514Election by districts 5-515Filling of vacancies on board 5-516Compensation of directors and officers 5-517Officers, required and permitted 5-518Removal, directors and officers 5-519Meetings, annual and special 5-520Quorum 5-521Voting by proxy and mail 5-522Validity of contracts with members 5-523Cooperative as member 5-524Conducting business with other cooperatives 5-525Distribution of proceeds 5-526Operation as agent on nonprofit basis 5-527Merger, consolidation, dissolution 5-528Payment for acquisition of business 5-529Annual financial statements 5-530Restraint of trade 5-531Maryland general corporation law, application 5-532Penalties for violations