1. (a) Any Maryland corporation organized under the Maryland General Corporation Law¹ 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.

2. (b) The articles of amendment and restatement shall:

   1. (1) State that the corporation elects to become a cooperative under this subtitle;
   2. (2) Make every change in the charter necessary to become a cooperative; and
   3. (3) Contain a complete restatement of the charter as amended.

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1976, c. 567, § 2.

Formerly Art. 23, § 374.

Corporations and Associations, § 1-101 et seq.