Maryland Corporations and Associations Section 5-204

Article - Corporations and Associations

§ 5-204.

      (a)      For purposes of any law or rule relating to members of a nonstock corporation, the directors of a nonstock corporation, under either of the circumstances described in subsection (b) of this section:

            (1)      Also constitute the members of the corporation; and

            (2)      When meeting as directors, may exercise the rights and powers of members.

      (b)      This section applies if:

            (1)      Neither the charter nor the bylaws of the corporation provide for members; or

            (2)      The nonstock corporation in fact has no members.



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