Maryland § 5-505
Full text of Maryland Maryland Code § 5-505, with citation guidance and answers to common questions.
§ 5-505.
(a) The incorporators of a cooperative shall sign, acknowledge, and file with the Department, articles of incorporation. The articles of incorporation shall include:
(1) The name of the cooperative;
(2) The name, address, and state of residence of each incorporator;
(3) A statement of the purposes of the cooperative;
(4) The municipal area of its principal office in the State; and
(5) The name and address of its resident agent in the State.
(b) (1) If the cooperative is organized with capital stock, the articles of incorporation shall state:
(i) The number of shares of stock;
(ii) The par value of each share of stock; and
(iii) The aggregate par value of all shares of stock.
(2) A cooperative may not issue stock without par value.
(c) If the cooperative is organized without capital stock, the articles of incorporation shall state whether the property rights of its members are equal or unequal and, if unequal, the rule by which the property rights of members, including members admitted after the original organization, are to be determined.
Frequently Asked Questions About Maryland § 5-505
What does Maryland Code § 5-505 cover?
Section 5-505 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 5-505?
A common citation format is "Maryland Code § 5-505" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 5-505 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.