Maryland § 4A-12A-10 - NOT IN EFFECT

§ 4A-12A-10. NOT IN EFFECT

    NOT IN EFFECT

    ** TAKES EFFECT OCTOBER 1, 2026 PER CHAPTERS 198 AND 199 OF 2025 **

    (a)    A limited worker cooperative association may include multiple classes of members whose rights and membership interests shall be determined by the cooperative agreement.

    (b)    To begin business, a limited worker cooperative association must have at least three worker members unless the sole member is a limited worker cooperative association.

    (c)    A person becomes a member of a limited worker cooperative association:

        (1)    As provided in the articles of organization or cooperative agreement;

        (2)    As the result of a merger under Subtitle 7 of this title;

        (3)    As a result of a conversion under this article, in which another entity elects to be a limited worker cooperative association under this subtitle; or

        (4)    With the consent of all of the worker members.

    (d)    A member may not act for or bind the limited worker cooperative association solely by reason of being a member.

    (e)    Unless the articles of organization provide otherwise, a debt, an obligation, or any other liability of a limited worker cooperative association is solely that of the association and is not the debt, obligation, or liability of a member.

    (f)    (1)    The organization of a limited worker cooperative association under this subtitle does not create a presumption that worker members are employees of the association for any purpose.

        (2)    If a limited worker cooperative association is taxed as a partnership for federal and State income tax purposes, that fact may not be construed to require that a worker member be considered an employee under any State law.