2013 Maryland Code
§ 5-205 - When membership reduced by death or resignation

MD Corp & Assn Code § 5-205 (2013) What's This?


(a) A nonstock corporation is not required to dissolve merely because the death or resignation of a member reduces the actual number of members to less than required by its charter or bylaws.

(b) As long as there is a remaining member, he may fill vacancies and continue the corporate existence.

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