MD SB144

Authorizes formation of limited worker cooperative associations (LWCAs) as a new type of Maryland limited liability company where worker members democratically self-manage the business and share in profits based on labor contributed

Requires LWCAs to have at least three worker members to begin business, a board of representatives (minimum three individuals), and annual assembly meetings with voting power held primarily by worker members

Establishes two-thirds vote threshold from both worker members and all voting members required to terminate LWCA status or dissolve the association

Exempts LWCA membership interests, patronage refunds, and equity instruments from securities registration requirements and allows sales without broker-dealer registration

Requires workers' compensation insurers to calculate premiums for LWCA members based on actual payroll value, with enforcement by the Maryland Insurance Commissioner; takes effect October 1, 2026