Maryland legislation · 2026 Regular Session
Maryland HB85: Corporations and Associations - Cooperative Limited Equity Housing Corporations - Establishment
Status: Signed into law, April 28, 2026
Authorizing a Maryland nonstock corporation to convert to a cooperative limited equity housing corporation subject to certain requirements; requiring a cooperative limited equity housing corporation to provide a certain notice and offer to certain households under certain circumstances; requiring a cooperative limited equity housing corporation to reimburse certain households for moving expenses; etc.
What the bill says
An act concerning Corporations and Associations - Cooperative Limited Equity Housing Corporations - Establishment FOR the purpose of authorizing a Maryland nonstock corporation to convert to a cooperative limited equity housing corporation and establishing certain procedures and requirements for the conversion of a Maryland nonstock corporation to a cooperative limited equity housing corporation; establishing the allocation of votes in a cooperative limited equity housing corporation…
From the enrolled text, May 5, 2026:
AN ACT concerning Corporations and Associations - Cooperative Limited Equity Housing Corporations - Establishment FOR the purpose of authorizing a Maryland nonstock corporation to convert to a cooperative limited equity housing corporation and establishing certain procedures and requirements for the conversion of a Maryland nonstock corporation to a cooperative limited equity housing corporation; establishing the allocation of votes in a cooperative limited equity housing corporation; requiring a cooperative limited equity housing corporation to provide certain notice and an offer to certain households under certain circumstances; requiring a cooperative limited equity housing corporation to reimburse certain households for moving expenses; restricting the appreciation and sale of a cooperative interest in a cooperative limited equity housing corporation; requiring a certain membership composition for a cooperative limited equity housing corporation; authorizing the Department of Housing and Community Development to establish certain rights and requirements for a cooperative limited equity housing corporation and its members and to provide certain grants to promote the establishment of cooperative limited equity housing corporations; prohibiting local governments from imposing certain restrictions on cooperative limited equity housing corporations or the conversion of a Maryland nonstock corporation to a cooperative limited equity housing corporation; and generally relating to cooperative limited equity housing corporations and the conversion of Maryland nonstock corporations. BY repealing and reenacting, with amendments, Article - Corporations and …