1. (a)

   1. (1) A cooperative may operate as an agent to sell the products of its members or nonmember patrons on a nonprofit basis by contracting to pay the members or nonmember patrons the resale price for products sold by them to or through the cooperative, less a uniform charge to cover the expenses involved in the handling of these products.

   2. (2) The resale price shall be:

      1. (i) The actual resale price; or
      2. (ii) A price based on the average price during any period for products of the same type and quality.

   3. (3) The uniform charge for expenses shall be:

      1. (i) Specified in the contract;
      2. (ii) Made otherwise ascertainable; or
      3. (iii) Left for determination by the directors.
2. (b) A cooperative desiring to purchase goods or obtain or perform services under this subtitle may operate on a nonprofit basis in a manner similar to that described in this section.

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1976, c. 694.

Formerly Art. 23, § 372.