§ 5-507
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/md/corporations-and-associations/5-507·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§5–507.
(a)Any Maryland corporation organized under the Maryland General Corporation Law which does or intends to do business on a cooperative basis may convert itself into a cooperative by amending and restating its charter in accordance with Title 2, Subtitle 6 of this article.
(b)The articles of amendment and restatement shall:
(1)State that the corporation elects to become a cooperative under this subtitle;
(2)Make every change in the charter necessary to become a cooperative; and
(3)Contain a complete restatement of the charter as amended.