Current with changes from the 2024 legislative session from Chs. 2 through 1049, effective on or before 6/1/2024
Section 5-512 - Management of cooperative; number and qualifications of directors(a) The business and affairs of a cooperative shall be managed under the direction of a board of directors.(b) Every cooperative shall have at least five directors, at least two of whom are residents of the State and each of whom is a member of the cooperative or of a member cooperative.