§ 5-6A-01. Transportation cooperatives

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(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.

HISTORY: An. Code 1957, art. 23, § 411A; 1975, ch. 311, § 2; 1999, ch. 34, § 8; 2002, ch. 135, § 3.

                    
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