Known as the Maryland Consumer Cooperative Act
The act spans §§ 5–5 (30 sections).
(a) A cooperative may be formed as a stock corporation or as a nonstock corporation.
(b) Membership interests may be evidenced by certificates of stock, certificates of membership, or notification of credit to a member’s capital or ownership account.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.