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Ch. 269 2006 LAWS OF MARYLAND
BUDGET TO THE MARYLAND ECONOMIC DEVELOPMENT ASSISTANCE AUTHORITY
AND FUND FOR THE PURPOSE OF ASSISTING IN THE ESTABLISHMENT OF
BROADBAND COMMUNICATION SERVICES IN RURAL AND UNDERSERVED AREAS OF
THE STATE:
(2) MONEY APPROPRIATED IN THE STATE BUDGET TO THE FUND;
(3) FEDERAL MONEY ALLOCATED OR GRANTED TO THE FUND; AND
(4) ANY OTHER MONEY FROM ANY SOURCE ACCEPTED FOR THE
BENEFIT OF THE FUND.
(F) THE FUND MAY BE USED ONLY FOR PLANNING, CONSTRUCTION, AND
MAINTENANCE OF BROADBAND TELECOMMUNICATION COMMUNICATION SERVICES
AND EQUIPMENT IN RURAL AND UNDERSERVED AREAS, AND RELATED ACTIVITIES.
(G) (1) THE TREASURER SHALL INVEST THE MONEY IN THE FUND IN THE
SAME MANNER AS OTHER STATE MONEY MAY BE INVESTED.
(2) ANY INVESTMENT EARNINGS OF THE FUND SHALL BE CREDITED TO
THE GENERAL FUND OF THE STATE.
(H) EXPENDITURES FROM THE FUND MAY ONLY BE MADE IN ACCORDANCE
WITH THE STATE BUDGET THE DEPARTMENT SHALL MAKE DISBURSEMENTS FROM
THE FUND WITHIN 30 DAYS FOLLOWING NOTICE OF A DECISION OF THE BOARD
UNDER ARTICLE 41, § 21-102(B)(3) OF THE CODE.
Article—Corporations and Associations
5-5A-24.
(a) (1) Except as provided in paragraph (2) of this subsection, a cooperative
may consolidate, merge, transfer assets, dissolve, or divide in the manner provided in
Title 3 of this article.
(2) (i) In the case of a cooperative with more than 10,000 voting
members, wherever Title 3 of this article requires the affirmative vote of the members
or stockholders, the members and stockholders entitled to vote shall approve the
consolidation, merger, transfer of assets, dissolution, or division in the manner
provided for in § 5-5A-21(a)(3) of this subtitle for amendments to the articles of
incorporation.
(ii) This provision is reserved for the members and may not be the
prerogative of the delegates.
(b) (1) A cooperative may, with proper notice, at any regular or special
meeting of its members, be dissolved by a vote of two-thirds of the membership voting
in person or by mail ballot. This right of dissolution is a right reserved for the
membership and not the right of the delegates.
(2) On affirmative vote to dissolve the cooperative, 3 members shall be
elected as trustees by a majority vote of the members voting at that regular or special
meeting.
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