§ 4A-12A-19

Maryland § 4A-12A-19

• Jurisdiction: Maryland
• Article gca: Corporations and Associations
• Title: 4A

Text

§4A–12A–19. NOT IN EFFECT

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

(a) (1) Except as provided in paragraph (2) of this subsection, the profits and losses of a limited worker cooperative association shall be apportioned and distributed in the manner specified by the articles of organization or cooperative agreement.

(2) Profits declared as patronage allocations with respect to a period of time and paid or credited to patron members shall be apportioned among the patron members in accordance with the ratio of each patron member’s patronage during the applicable time period to the total patronage by all patron members during that period.

(b) The apportionment, distribution, and payment of net earnings of the limited worker cooperative association may be in cash, credits, or written notices of allocation issued by the association.