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Ch. 135
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2002 LAWS OF MARYLAND
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(1) AFTER WINDING UP THE BUSINESS AND AFFAIRS OF THE
COOPERATIVE AS PROVIDED IN SUBSECTION (D) OF THIS SECTION, THE BOARD OF
DIRECTORS SHALL AUTHORIZE THE EXECUTION OF ARTICLES OF DISSOLUTION.
(2) THE ARTICLES OF DISSOLUTION SHALL BE SIGNED AND
ACKNOWLEDGED FOR THE COOPERATIVE BY ITS CHAIRMAN OR VICE-CHAIRMAN
AND ATTESTED BY ITS SECRETARY, AND THE SEAL OF THE COOPERATIVE SHALL BE
AFFIXED TO THE ARTICLES.
(F) CONTENTS OF ARTICLES OF DISSOLUTION.
THE ARTICLES OF DISSOLUTION SHALL STATE:
(1) THE NAME OF THE COOPERATIVE AND THE ADDRESS OF ITS
PRINCIPAL OFFICE;
(2) THE DATE ON WHICH THE CERTIFICATE OF ELECTION TO DISSOLVE
WAS ACCEPTED FOR RECORD BY THE DEPARTMENT;
(3) THAT THERE ARE NO ACTIONS PENDING AGAINST THE
COOPERATIVE;
(4) THAT ALL DEBTS, OBLIGATIONS, AND LIABILITIES OF THE
COOPERATIVE HAVE BEEN DISCHARGED, OR THAT ADEQUATE PROVISION HAS BEEN
MADE FOR THEIR DISCHARGE;
(5) THAT THE ARTICLES ARE EXECUTED IN ACCORDANCE WITH THIS
SUBTITLE; AND
(6) THAT THE PROVISIONS OF THIS SECTION HAVE BEEN COMPLIED
WITH.
(G) AFFIDAVIT THAT STATEMENTS ARE TRUE.
THE CHAIRMAN OR VICE-CHAIRMAN WHO SIGNS THE ARTICLES OF
DISSOLUTION FOR THE COOPERATIVE SHALL MAKE AND ATTACH TO THE ARTICLES
AN AFFIDAVIT STATING THAT THE STATEMENTS MADE IN THE ARTICLES ARE TRUE.
DRAFTER'S NOTE: This section is new language derived without substantive
change from former Ch. 179, § 21(b), Acts of 1976, as amended by Ch. 604, Acts of
2001.
In subsection (a) of this section, the reference to "doing" business is added for
clarity and consistency with language used elsewhere in this article.
Also in subsection (a) of this section, the phrase "as provided in this section" is
substituted for the former phrase "in the following manner" for consistency within
this subtitle and to conform to language used elsewhere, in this article.
In subsection (b) of this section, the reference to a "proposed dissolution" is
substituted for the former reference to a "proposal that the cooperative be dissolved"
for brevity.
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- 1436 -
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