Md. Code, Corporations and Associations § 5-516

Md. Code, Corporations and Associations § 5-516
in effect
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(a) A cooperative may provide a fair remuneration for the time its officers and directors spend in its service. (b) During his term of office, a director may not be a party to a contract for profit with the cooperative if the contract differs in any way from the business relations with the cooperative accorded its other members.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca&section=5-516&enactments=falseFetched: 10/16/2026

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