§ 5-5A-21

Maryland § 5-5A-21

• Jurisdiction: Maryland
• Article gca: Corporations and Associations
• Title: 5

Text

(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(b) Bylaws shall be adopted, amended or repealed by at least a majority vote of the members voting.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.