§ 5-6B-13. Cooperative interests not security or investment security

Latest version.

(a) Cooperative interest not security. -- A cooperative interest is not a security under the Maryland Securities Act.

(b) Applicability of Title 8 of Commercial Law Article. -- The provisions of Title 8 of the Commercial Law Article where consistent with this article shall apply to membership certificates in cooperative housing corporations.

HISTORY: 1986, chs. 833, 834.

                    
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