Md. Code, Corporations and Associations § 5-636
This is the official text of Md. Code, Corporations and Associations § 5-636, part of Maryland’s Code, Corporations and Associations — governs the formation and operation of corporations, LLCs, and partnerships.
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§5–636.
Official statutory text
(a) Subject to subsection (b) of this section, within 180 days after providing a certification to the Commission under § 5–635(h) of this subtitle, the cooperative’s board of directors, by a supermajority vote, shall:
(1) Adopt bylaws for the member–regulated cooperative; and
(2) Amend the cooperative’s articles of incorporation to reflect the cooperative’s conversion to being a member–regulated cooperative.
(b) The bylaws and amended articles of incorporation shall:
(1) Authorize the member–regulated cooperative to provide broadband Internet service;
(2) Establish a plan for making broadband Internet service available to members in a manner that maximizes deployment with available financial resources;
(3) Include an allocation method in accordance with § 5–607(c) of this subtitle to ensure that electric customers do not subsidize the cost of broadband Internet service; and
(4) Except as provided in § 5–637(a)(2) of this subtitle, be consistent with this subtitle.
(1) Adopt bylaws for the member–regulated cooperative; and
(2) Amend the cooperative’s articles of incorporation to reflect the cooperative’s conversion to being a member–regulated cooperative.
(b) The bylaws and amended articles of incorporation shall:
(1) Authorize the member–regulated cooperative to provide broadband Internet service;
(2) Establish a plan for making broadband Internet service available to members in a manner that maximizes deployment with available financial resources;
(3) Include an allocation method in accordance with § 5–607(c) of this subtitle to ensure that electric customers do not subsidize the cost of broadband Internet service; and
(4) Except as provided in § 5–637(a)(2) of this subtitle, be consistent with this subtitle.
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