{"data":{"id":"us-md/md.-code-corporations-and-associations-4-302","jurisdiction":"us-md","citation":"Md. Code, Corporations and Associations § 4–302","heading":"","body":"(a) An election to have no board of directors becomes effective at the later of:\n(1) The time that the organization meeting of directors and the issuance of at least one share of stock of the corporation are completed;\n(2) The time the charter document in which the election is made becomes effective; or\n(3) The time specified in the charter document in which the election is made.\n(b) A director automatically ceases to be a director when an election to have no board of directors becomes effective.","path":["Article - Corporations and Associations"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca\u0026section=4-302","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:43Z","sha256":"3b6e20ac9a2637782082cd501857a38500dc1ee758956904936f8bd9657bb075","source_id":"us-md","stale":false,"prev":"us-md/md.-code-corporations-and-associations-4-301","next":"us-md/md.-code-corporations-and-associations-4-303"},"notice":"GroundRules: Original legal text. Not legal advice."}