(a) Except for an electric or transportation cooperative, a person may not use the term “cooperative” as part of his corporate or business name unless he has complied with the provisions of this subtitle.
(b) A foreign corporation organized under and complying with the cooperative law of the place where it was organized may use the term “cooperative” in this State if it:
(1) Complies with the laws of this State applicable to foreign corporations; and
(2) Does business as a cooperative.
(c) Every cooperative shall use the term “cooperative” as part of or affixed to its corporate name.
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