§1502. Existing cooperative groups
92 words·~1 min read·
/me/title-13-corporations/chapter-85-cooperatives/1502·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any group incorporated under the law of this State and operating on a cooperative basis must file articles of amendment as required by Title 13‑C , and any unincorporated group operating on a cooperative basis in this State may elect by a vote of 2/3 of the members voting to secure the benefits of and be bound by this subchapter. The unincorporated group shall amend its bylaws to conform to the provisions of this subchapter and file articles of incorporation as required by section 1551 . [PL 2007, c. 231, §2 (AMD).]