Maryland § 5-5A-25
Full text of Maryland Maryland Code § 5-5A-25, with citation guidance and answers to common questions.
§ 5-5A-25.
(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.
Frequently Asked Questions About Maryland § 5-5A-25
What does Maryland Code § 5-5A-25 cover?
Section 5-5A-25 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 § 5-5A-25?
A common citation format is "Maryland Code § 5-5A-25" (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 § 5-5A-25 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.