{"data":{"id":"us-md/md.-code-corporations-and-associations-5-643","jurisdiction":"us-md","citation":"Md. Code, Corporations and Associations § 5–643","heading":"","body":"(a) (1) A member–regulated cooperative shall hold an election to revert to a cooperative on:\n(i) A majority vote of the board of directors; or\n(ii) Receipt by the board of directors of a petition signed by at least 1,000 members.\n(2) A member–regulated cooperative may hold an election to revert to a cooperative only once every 12 months.\n(b) (1) A vote to revert to a cooperative shall be held in accordance with § 5–635 of this subtitle.\n(2) Within 5 days after an affirmative vote to revert to a cooperative, the member–regulated cooperative shall file a declaration with the Commission stating that it has reverted to a cooperative.\n(c) (1) The Commission shall have jurisdiction over a member–regulated cooperative that has elected to revert to a cooperative on issuance of an order by the Commission.\n(2) The Commission shall issue the order under paragraph (1) of this subsection within 180 days after the filing of a declaration under subsection (b)(2) of this section.","path":["Article - Corporations and Associations"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca\u0026section=5-643","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:43Z","sha256":"4e77bc71e45082ef2e5c1fd9d6b99fae2198abcce0258e75e10de90c96b5f947","source_id":"us-md","stale":false,"prev":"us-md/md.-code-corporations-and-associations-5-642","next":"us-md/md.-code-corporations-and-associations-5-644"},"notice":"GroundRules: Original legal text. Not legal advice."}