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Maryland · Through 2026-01-01

Md. Code, Financial Institutions § 6–326

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  1. Article - Financial Institutions

(a) The office of a director becomes vacant if the director:

(1) Dies;

(2) Resigns; or

(3) Is removed.

(b) A director may be removed from office:

(1) By the board, in accordance with the bylaws, if the director:

(i) Does not possess or maintain the qualifications required to serve on the board; or

(ii) Is absent from three consecutive regular meetings of the board unless excused; or

(2) By the members.

(c) (1) Unless the bylaws provide otherwise, the remaining directors by majority vote shall fill a vacancy.

(2) A director elected by the board to fill a vacancy holds office as the bylaws provide.

Collected 2026-09-14T19:58:27Z. Source file · JSON

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