Section 5-618 - Meetings of members - Quorum. - Maryland Statutes

§ 5-618. Meetings of members - Quorum.
 

(a)  In general.- Unless the bylaws require the presence of a greater percentage or number of the members for a quorum, a quorum for the transaction of business at all meetings of the members of a cooperative shall be: 

(1) 5% of all members, present in person, of a cooperative that has not more than 1,000 members; and 

(2) Fifty members, present in person, of a cooperative that has more than 1,000 members. 

(b)  Less than quorum.- If less than a quorum is present at any meeting, a majority of those present in person may adjourn the meeting from time to time without further notice. 
 

[2002, ch. 135, § 3.]