Corporations and Associations - Limited Worker Cooperative Associations - Authorization (Maryland Limited Worker Cooperative Association Act)

This bill creates a new legal structure in Maryland for "limited worker cooperative associations," allowing employee-owned businesses where workers democratically control operations. It establishes specific rules for forming, governing, converting, and dissolving these cooperatives, requiring a "cooperative agreement" as part of their governing documents. The bill adjusts fees to align with other business entities, including a $25 fee for reserving a cooperative name and a $300 annual report fee. This directly affects workers and businesses in Maryland seeking to establish or convert to a worker cooperative model.