370

LAWS OF MARYLAND

Ch. 179

Article 23 — Corporations

Sections 379 through 411, inclusive

Annotated Code of Maryland

(1973 Replacement Volume and 1975 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Sections 379 through 411, inclusive, of
Article 23 — Corporations of the Annotated Code of
Maryland (1973 Replacement Volume and 1975 Supplement),
be and they are hereby repealed and reenacted with
amendments and transferred from the Annotated Code of
Maryland to the Session Laws, to read as follows:

Article 23 — Corporations

[379] 1 . Short title.

This [subtitle] ACT may be cited as the "Electric
Cooperative Act."

[380] 2. Purpose.

Cooperative, nonprofit, membership corporations may
be organized under this [subheading] ACT for the purpose
of supply electric energy and promoting and extending the
use thereof.

[381] 3. Definitions.

In this [subheading] ACT:

(a)    "Cooperative" means any corporation organized
under this [subheading] ACT or which becomes subject to
this [subheading] ACT in the manner hereinafter provided;
and

(b)     "Person" means any natural person, firm,
association, corporation, business trust, partnership,
federal agency. State or political subdivision or agency
thereof, or any body politic.

[382] 4. Powers.

A cooperative shall have power:

(a)   To sue and be sued in its corporate name;

(b)   To have perpetual existence;

(c)   To adopt a corporate seal and alter the same;

(d)  To generate, manufacture, purchase, acquire,
accumulate and transmit electric energy, and to
distribute, sell, supply and dispose of electric energy
to its members, to governmental agencies and political
subdivisions, and to other persons not in excess of ten