§5–507.

    (a)    Any Maryland corporation organized under the Maryland General Corporation Law which does or intends to do business on a cooperative basis may convert itself into a cooperative by amending and restating its charter in accordance with Title 2, Subtitle 6 of this article.

    (b)    The articles of amendment and restatement shall:

        (1)    State that the corporation elects to become a cooperative under this subtitle;

        (2)    Make every change in the charter necessary to become a cooperative; and

        (3)    Contain a complete restatement of the charter as amended.