reglab/housing_qa huggingface dataset:
MD. Corporations and Associations Code Ann. §  5-5A-11 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-11 - Bylaws

    (a)    Within 30 days after incorporation as a cooperative or within 30 days after the filing of articles of amendment and restatement of a corporation converting to a cooperative, the cooperative shall adopt bylaws not inconsistent with this subtitle for the regulation and management of its affairs.    (b)    (1)    The initial bylaws of a cooperative may be adopted by the temporary board of directors.        (2)    (i)    Thereafter, bylaws may be adopted and amended only by the members, unless the members adopt a bylaw which permits the board of directors or delegates of the membership to adopt and amend specific bylaws.            (ii)    Any bylaw adopted or amended by the board of directors or by delegates shall be reported at the next regular membership meeting.
MD. Corporations and Associations Code Ann. §  5-5A-12 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-12 - Management of Cooperative; Number and Qualifications of Directors

    (a)    The business and affairs of a cooperative shall be managed under the direction of a board of directors. Every cooperative shall have at least 5 directors.    (b)    Except in the case of foreign cooperatives, at least 2 of the directors shall be residents of this State.    (c)    Each director shall be a member of the cooperative or of a member cooperative.
MD. Corporations and Associations Code Ann. §  5-5A-13 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-13 - Original Directors; Election and Term of Successors

    (a)    Until the first annual meeting of members and until successors are elected and qualified, the board of directors shall consist of:        (1)    Individuals named as directors in the articles; or        (2)    If no directors are named, the incorporators.    (b)    (1)    The directors shall be elected by the members or by delegates of the members.        (2)    Unless the bylaws provide otherwise, the directors shall be elected at the first annual membership meeting and at each subsequent annual membership meeting, and shall hold office until the next annual membership meeting and until their successors are elected and qualified.        (3)    The bylaws may provide for staggered terms of directors and delegates.
MD. Corporations and Associations Code Ann. §  5-5A-14 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-14 - Bylaws Provision for Election of Directors and Delegates of Members

    (a)    The bylaws may provide for election of directors and delegates of members by district or by interest groups.    (b)    The bylaws shall specify the number and manner of apportioning directors and delegates of members.
MD. Corporations and Associations Code Ann. §  5-5A-15 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-15 - Officers

    (a)    Each cooperative shall have the following officers:        (1)    President or chairman;        (2)    Vice president or vice chairman;        (3)    Secretary; and        (4)    Treasurer.    (b)    The offices of secretary and treasurer may be combined.    (c)    In addition to the required officers, a cooperative may have any other officers provided for in the bylaws.    (d)    The president or chairman and vice president or vice chairman shall be elected by and from among the directors.
MD. Corporations and Associations Code Ann. §  5-5A-16 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-16 - Removal of Directors, Officers, and Delegates

    The bylaws of a cooperative shall provide for the process of removal of directors, officers, and delegates.
MD. Corporations and Associations Code Ann. §  5-5A-17 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-17 - Remuneration of Officers and Directors

    The bylaws of a cooperative may provide for remuneration of its officers and directors.
MD. Corporations and Associations Code Ann. §  5-5A-18 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-18 - Eligibility for Membership

    A person shall be eligible for membership in a cooperative if the qualifications for membership as stated in the bylaws have been met.
MD. Corporations and Associations Code Ann. §  5-5A-19 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-19 - Meetings; Quorum

    (a)    (1)    Every cooperative shall hold at least an annual meeting of its members, or the delegates of its members, to elect directors and to transact any other business within its powers.        (2)    The annual meeting shall be held at the time provided in the bylaws at the principal office or any other place as determined by the board of directors.    (b)    (1)    The board of directors may call a special meeting at any time.        (2)    Ten percent of the members or a lesser number as provided in the bylaws may request a special meeting at any time by filing a petition which states the specific business to be brought before the meeting, and the board of directors shall then call the meeting.        (3)    Two-thirds of the delegate body of the membership may call a special meeting of the membership at any time.    (c)    Notice of each membership meeting shall be mailed to each member at least 15 but not more than 90 days before the meeting, and, if a special meeting is called, the notice shall state the purpose of the meeting.    (d)    Unless the bylaws provide otherwise, a quorum is present:        (1)    At a membership meeting if 5 percent of the members are present in person or present by mail ballot; and        (2)    At a meeting of the delegates of the membership if 50 percent of the delegates are present in person.
MD. Corporations and Associations Code Ann. §  5-5A-20 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-20 - Voting

    (a)    Only members shall be entitled to vote in a cooperative.    (b)    Except as to federated cooperatives, the bylaws of a cooperative shall provide for voting on a 1 vote per member basis.    (c)    In a federated cooperative, the voting rights of members may be prescribed in the articles of incorporation or bylaws. Voting may not be based solely on the amount of investment by a member or on membership capital attributable to a member.    (d)    Voting by mail may be permitted as provided in the articles of incorporation or bylaws of a cooperative.    (e)    (1)    Subject to the provisions of this subtitle, the bylaws of a cooperative may provide for the nomination and election of delegates to represent the membership.        (2)    Where election of delegates has been provided for in the bylaws, unless otherwise stated in the bylaws, a reference in the bylaws to members will be considered to be a reference to delegates.
MD. Corporations and Associations Code Ann. §  5-5A-21 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-21 - Amendments to Articles of Incorporation; Action on Bylaws

    (a)    (1)    Amendments to the articles of incorporation may be proposed by a two-thirds vote of the board of directors, by one-third of the delegates present and voting, or by petition of 10 percent of the cooperative’s members.        (2)    Notice of the meeting to consider amendments shall be sent by the secretary at least 30 days before the meeting to each member at the member’s last known address, accompanied by the full text of the proposal and by that part of the articles to be amended.        (3)    Two-thirds of the members voting may adopt that amendment. The power to amend the articles of incorporation is reserved to the members.    (b)    Bylaws shall be adopted, amended or repealed by at least a majority vote of the members voting. If the cooperative has adopted a delegate system, the bylaws may be amended by two-thirds of those delegates present and voting.
MD. Corporations and Associations Code Ann. §  5-5A-23 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-23 - Auditing; Annual Report

    (a)    (1)    Each cooperative shall have an audit committee as specified in its bylaws.        (2)    At least annually, the audit committee shall audit, or cause to have audited, the affairs of the cooperative and make a full report on the audit to the board of directors, the meeting of delegates, and the annual membership meeting.        (3)    A report for the previous fiscal year shall be read or presented in written form at the annual meeting of members of the cooperative and kept with the records of the cooperative.    (b)    Every cooperative shall prepare within 120 days of the close of its operations for each fiscal year, as specified in its articles of incorporation or bylaws, a report of its conditions which shall be available for inspection by the members of the cooperative. The report shall state, at a minimum:        (1)    The names, addresses, occupations, and date of expiration of the terms of the directors and officers;        (2)    The amount and nature of the cooperative’s authorized, subscribed, and paid-in capital, the par value of its stock, and the rate at which any return upon capital has been paid. For nonstock cooperatives, the annual report shall state the total number of members and the amount of membership equity received or allocated;        (3)    The annual receipts, annual expenditures, assets, and liabilities of the cooperative; and        (4)    The audit committee report or the report of the auditors.    (c)    A copy of this annual report shall be kept on file at the principal office of the cooperative and be made available to the members during regular business hours.
MD. Corporations and Associations Code Ann. §  5-5A-24 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-24 - Consolidation, Merger, Transfer of Assets, Dissolution, or Division

    (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.        (3)    The trustees, on behalf of the cooperative and within a time fixed in their designation or within any extension thereof, shall liquidate the assets of the cooperative and distribute the assets in the manner set forth in this section.    (c)    A suit for involuntary dissolution of the cooperative organized under this subtitle may be instituted for the causes and prosecuted in the manner set forth in the general corporate law of Maryland. Assets shall be distributed in a manner set forth in this subtitle.    (d)    When a cooperative is dissolved, its assets shall be distributed in the following manner and order:        (1)    By paying its debts and expenses;        (2)    By returning to the members the lesser of par value or book value of their shares, their membership capital, or allocated equity;        (3)    By returning to the subscribers the lesser of par value or book value of amounts paid on their subscriptions;        (4)    By returning to eligible patrons the lesser of par value or book value of the amount of net savings credited to their accounts toward the purchase of shares or membership; and        (5)    By distributing any surplus as a gift to another cooperative or to a nonprofit, tax–exempt enterprise.
MD. Corporations and Associations Code Ann. §  5-5A-25 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-25 - Division

    (a)    (1)    A cooperative may divide itself into 2 or more cooperatives under this subtitle.        (2)    A written plan of division shall be prepared by the board or by a committee selected by the board for that purpose.        (3)    The plan shall set forth all the terms of the division and its proposed effect on all members and stockholders of the cooperative.        (4)    The plan shall contain the articles of incorporation of each new cooperative being formed and any amendments to the articles of incorporation of the remaining cooperative.    (b)    The members and stockholders entitled to vote shall approve the plan in the manner provided for amendments to the articles of incorporation. This provision is reserved for the members and may not be the prerogative of the delegates.    (c)    (1)    Articles of division shall set forth the approved plan and shall be filed and recorded as an amendment to the articles of incorporation.        (2)    Each part of the plan that contains the articles of incorporation of a new cooperative shall be filed separately and recorded as articles of incorporation for the new cooperative.
MD. Corporations and Associations Code Ann. §  5-5A-26 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-26 - Applicability of Subtitle

    (a)    (1)    Any entity operating on a cooperative basis as of the effective date of this subtitle may elect to secure the benefits of and be bound by this subtitle.        (2)    If the entity elects to secure the benefits of this subtitle, it shall amend its articles and bylaws to conform with this subtitle.        (3)    Consumer cooperatives organized before July 1, 1985, shall be considered to be in compliance, except that any subsequent amendments to their articles of incorporation or bylaws shall conform to this subtitle.    (b)    All consumer cooperatives organized on or after July 1, 1985, shall conform to this subtitle.
MD. Corporations and Associations Code Ann. §  5-5A-27 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-27 - Organization of Economic Activity Under Subtitle Not Cause of Illegality in Itself

    The fact that economic activity of a cooperative or of a cooperative’s subsidiaries or related entities is organized under this subtitle may not in itself cause the activity to be considered a conspiracy, a combination in restraint of trade, an illegal monopoly, or an attempt to lessen competition or fix prices arbitrarily.
MD. Corporations and Associations Code Ann. §  5-5A-28 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-28 - Evidence of Membership Capital Not Security

    Cooperative stock, membership interest, or other evidence of membership capital is not a security under the Maryland Securities Act or any law related to that Act.
MD. Corporations and Associations Code Ann. §  5-5A-29 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-29 - Applicability of General Corporation Law

    The Maryland General Corporation Laws are applicable to cooperatives, except to the extent that the Maryland General Corporation Law expressly exempts cooperatives or is contrary to or inconsistent with this subtitle.
MD. Corporations and Associations Code Ann. §  5-5A-30 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 5A - Maryland Consumer Cooperative Act|Section 5-5A-30 - Short Title

    This subtitle may be cited as the “Maryland Consumer Cooperative Act”.
MD. Corporations and Associations Code Ann. §  5-6A-01 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 6A - Transportation Cooperatives|Section 5-6A-01 - Transportation Cooperatives

    (a)    Cooperative, nonprofit, membership corporations may be organized to supply, promote, and extend the use of transportation services.    (b)    Each cooperative organized under this section shall be organized and governed by the provisions of Subtitle 2, “Nonstock Corporations”, of this title.    (c)    A cooperative organized under this section may use the term “cooperative” as part of its corporate name.
MD. Corporations and Associations Code Ann. §  5-6B-04 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 6B - Maryland Cooperative Housing Corporation Act|Section 5-6B-04 - Warranties

    (a)    (1)    There is an implied warranty from the developer to the cooperative housing corporation on the roof, foundation, and other structural elements, ceilings, floors, walls, mechanical, electrical, and plumbing systems.        (2)    The warranty shall provide that the developer is responsible for correcting defects in materials or workmanship, and that the building elements specified in this description are within acceptable industry standards in effect when the building or buildings were constructed.        (3)    The warranty begins with the first transfer of a cooperative interest in the cooperative housing corporation to an initial purchaser. The warranty on a portion of the cooperative project not completed at the time of the transfer begins with the completion of that building element or with its availability for use by members, whichever occurs later. The warranty extends for a period of 3 years from the commencement date of the warranty.        (4)    A suit for enforcement of the warranty on a portion of the cooperative project shall be brought by the cooperative housing corporation or by a member.    (b)    Notice of a defect shall be given to the developer within the warranty period and suit for enforcement of the warranty shall be brought within 1 year after expiration of the warranty period.    (c)    Warranties do not apply to any damage caused through abuse or failure to perform maintenance by a member or the cooperative housing corporation.
MD. Corporations and Associations Code Ann. §  5-6B-05 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 6B - Maryland Cooperative Housing Corporation Act|Section 5-6B-05 - Notice of Conversion to Tenants

    (a)    (1)    At least 180 days before a tenant is required to vacate a portion of a residential rental facility used as a residence that is acquired or is to be acquired by a cooperative housing corporation or that is owned by or is to be owned by a corporation that may become a cooperative housing corporation, the owner and the landlord of each tenant in possession of a portion of the residential rental facility shall give the tenant a notice in substantially the form specified in subsection (f) of this section.        (2)    For effective notice, the owner and the landlord, at least 15 days before giving the notice required by this section, shall file with the Secretary of State a copy of the notice, a list of the tenants to whom the owner and the landlord anticipate giving notice, and an affidavit in substantially the following form:
MD. Corporations and Associations Code Ann. §  5-6B-09 (2021)
2021 Maryland Statutes|Corporations and Associations|Title 5 - Special Types of Corporations|Subtitle 6B - Maryland Cooperative Housing Corporation Act|Section 5-6B-09 - Authority of Local Governments to Require First Right of Purchase at Same Terms

    (a)    (1)    A county or an incorporated municipality may provide by local law or ordinance, that the cooperative interest with respect to a unit in a residential rental facility occupied by a tenant entitled to receive the notice required by § 5-6B-05 of this subtitle may not be transferred unless the county, incorporated municipality, or housing agency has first been offered in writing the right to purchase the cooperative interest at the same price and on the same terms and conditions initially offered to any other person. The local law or ordinance shall designate the title and mailing address of the person to whom the offer to the county, incorporated municipality, or housing agency is to be delivered and the title of the person who may accept the offer on behalf of the county, incorporated municipality, or housing agency.        (2)    The local law or ordinance shall provide that the offer to the county, incorporated municipality, or housing agency shall be made at the same time an offer is made to a tenant of the unit under § 5-6B-06 of this subtitle. If a tenant accepts an offer of a unit made under § 5-6B-06 of this subtitle, then the rights of the county, incorporated municipality, or housing agency to such unit under an offer made under this section, whether or not accepted, shall terminate.        (3)    Unless written acceptance of the offer is first delivered to the owner of the residential rental facility by the county, incorporated municipality, or housing agency, the offer shall terminate, without further act, 120 days after it is delivered to the county, incorporated municipality, or housing agency.    (b)    A county, incorporated municipality, or housing agency may not accept an offer made under this section for a cooperative interest with respect to a unit if that unit together with the aggregate of other units previously accepted or not accepted, subject to an extended lease by a designated family under this subtitle, exceeds 20 percent of the total number of units in the cooperative project.    (c)    If a membership certificate for a cooperative interest contains an affidavit by the grantor that the provisions of a law or ordinance enacted under this section have been fulfilled, then the grantee in that grant takes title to the cooperative interest free and clear of all claims and rights of any county, incorporated municipality, or housing agency under a local law or ordinance enacted under this section.    (d)    Within 30 days of the enactment of a law or ordinance under this section, the county or incorporated municipality shall forward a copy of the law or ordinance to the Secretary of State.