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PARRIS N. GLENDENING, Governor
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Ch. 135
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(6) A STATEMENT THAT THE ARTICLES ARE EXECUTED IN ACCORDANCE
WITH THIS SUBTITLE.
(B) PERMISSIBLE PROVISIONS.
THE ARTICLES OF INCORPORATION OF A COOPERATIVE MAY CONTAIN ANY
PROVISION THAT:
(1) IS CONSISTENT WITH THIS SUBTITLE; AND
(2) IS CONSIDERED NECESSARY OR ADVISABLE FOR THE CONDUCT OF
THE BUSINESS OF THE COOPERATIVE.
(C) UNNECESSARY PROVISIONS.
THE ARTICLES OF INCORPORATION NEED NOT STATE THE PURPOSE FOR WHICH
THE COOPERATIVE IS ORGANIZED OR ANY OF ITS CORPORATE POWERS.
(D) EXECUTION OF ARTICLES.
THE ARTICLES OF INCORPORATION SHALL BE SIGNED BY EACH INCORPORATOR
AND ACKNOWLEDGED BY AT LEAST TWO OF THE INCORPORATORS, OR ON THEIR
BEHALF, IF THEY ARE COOPERATIVES.
DRAFTER'S NOTE: This section is new language derived without substantive
change from former Ch. 179, § 7, Acts of 1976, as amended by Ch. 604, Acts of 2001.
Defined terms: "Cooperative" § 5-601
"Director" § 1-101
"Principal office" § 1-101
"Resident agent" § 1-101
5-609. AMENDMENT OF ARTICLES OF INCORPORATION.
(A) IN GENERAL.
A COOPERATIVE MAY AMEND ITS ARTICLES OF INCORPORATION AS PROVIDED
IN THIS SECTION.
(B) APPROVAL BY MEMBERS.
(1) A PROPOSED AMENDMENT SHALL BE SUBMITTED FOR
CONSIDERATION AT AN ANNUAL OR SPECIAL MEETING OF THE MEMBERS OF THE
COOPERATIVE.
(2) THE PROPOSED AMENDMENT SHALL BE INCLUDED IN OR ATTACHED
TO THE NOTICE OF THE MEETING.
(3) THE PROPOSED AMENDMENT AND ANY CHANGE TO THE PROPOSED
AMENDMENT SHALL BE APPROVED BY THE AFFIRMATIVE VOTE OF NOT LESS THAN
TWO-THIRDS OF THE MEMBERS VOTING ON THE MATTER
(C) EXECUTION OF ARTICLES OF AMENDMENT.
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- 1411 -
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