{"data":{"id":"us-md/md.-code-financial-institutions-3-409","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 3–409","heading":"","body":"(a) Within 15 days after the annual meeting of the stockholders and after the directors–elect have qualified, the board of directors of a commercial bank shall meet and elect the officers of the commercial bank.\n(b) Unless the bylaws provide otherwise, each officer serves for a term of 1 year and until a successor is elected and qualifies.\n(c) The board of directors may remove any officer at any time.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=3-409","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"3071ff16f6b5acf07ab7a8d0209d925a3094d46b3b1a2862a60412352633f906","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-3-408","next":"us-md/md.-code-financial-institutions-3-501"},"notice":"GroundRules: Original legal text. Not legal advice."}