Maryland Financial Institutions Section 6-326

Article - Financial Institutions

§ 6-326.

      (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.



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