Maryland Financial Institutions Section 3-411

      (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.

      (b)      Unless the bylaws provide otherwise, each officer serves for a term of 1 year and until a successor is elected and qualifies.

      (c)      The board of directors may remove any officer at any time.