Statutes Text
Article - Corporations and Associations
§5–5A–12.
(a) The business and affairs of a cooperative shall be managed under the direction of a board of directors. Every cooperative shall have at least 5 directors.
(b) Except in the case of foreign cooperatives, at least 2 of the directors shall be residents of this State.
(c) Each director shall be a member of the cooperative or of a member cooperative.
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