2013 Maryland Code
FINANCIAL INSTITUTIONS
§ 6-326 - Directors -- Vacancy or removal; filling vacancy
§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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