HARRY HUGHES, Governor

115

The Administrator shall distribute the balance in the
general funds of the State.

Article - Corporations and Associations

5-501.

(b) "Cooperative" means a corporation organized or
converted under this subtitle, which operates for the mutual
benefit of its members and conforms to the following
requirements:

(1)  A member of the cooperative is not allowed
more than one vote, regardless of the amount of stock or
membership capital [be] HE may own;

(2)  The cooperative does not pay dividends on
stock or membership capital in excess of 12 percent per
annum;

(3)  The cooperative does not deal in products of
nonmembers in an amount greater in value than that in which
it deals for members; and

(4)  After payment of every necessary expense and
authorized deduction, the proceeds from the business of the
cooperative are distributed to the members in proportion to
the volume of business transacted by them with the
cooperative.

10-103.

(b) (1) A person may reserve a specified name by
filing a signed application with the Department[:].

SECTION 6. AND BE IT FURTHER ENACTED, That section(s)
of the Annotated Code of Maryland (as enacted by Chapter 801
of the Acts of the General Assembly of 1981) read(s) as
follows:

Article - Corporations and Associations

10-402.

A person ceases to be a general partner of a limited
partnership upon the happening of any of the following
events:

(3) Unless otherwise provided in the certificate
or with the consent of all partners, the person's[;]:

(i) Making an assignment for the benefit
of creditors;

(ii) Filing a voluntary petition in
bankruptcy;