Section 5-510 - Use of term "cooperative" in corporate name.
§ 5-510. Use of term "cooperative" in corporate name.
(a) Compliance with subtitle required.- Except for an electric or transportation cooperative, a person may not use the term "cooperative" as part of his corporate or business name unless he has complied with the provisions of this subtitle.
(b) Exception as to foreign cooperatives.- A foreign corporation organized under and complying with the cooperative law of the place where it was organized may use the term "cooperative" in this State if it:
(1) Complies with the laws of this State applicable to foreign corporations; and
(2) Does business as a cooperative.
(c) Cooperative must use term.- Every cooperative shall use the term "cooperative" as part of or affixed to its corporate name.
[An. Code 1957, art. 23, § 377; 1975, ch. 311, § 2.]