Md. Code Ann., Corps. & Ass'ns § 5-512
Number and qualifications of directors
Effective Jul 1, 1975Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1976, c. 567, § 2; Acts 1976, c. 694.State of Maryland
- (a) The business and affairs of a cooperative shall be managed under the direction of a board of directors.
- (b) Every cooperative shall have at least five directors, at least two of whom are residents of the State and each of whom is a member of the cooperative or of a member cooperative.
Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1976, c. 567, § 2; Acts 1976, c. 694.
Formerly Art. 23, § 360.