Section 5-6 - A-01. Transportation cooperatives.
§ 5-6A-01. Transportation cooperatives.
(a) Purpose.- Cooperative, nonprofit, membership corporations may be organized to supply, promote, and extend the use of transportation services.
(b) Organization and regulation.- Each cooperative organized under this section shall be organized and governed by the provisions of Subtitle 2, "Nonstock Corporations", of this title.
(c) Use of term "cooperative".- A cooperative organized under this section may use the term "cooperative" as part of its corporate name.
[An. Code 1957, art. 23, § 411A; 1975, ch. 311, § 2; 1999, ch. 34, § 8; 2002, ch. 135, § 3.]