Md. Code Ann., Fin. Inst. § 3-407
Redline — January 1, 2019 → current.View current text →
Current — January 1, 2021
As of January 1, 2019
(a) Subject to the limitation in § 3-402 of this subtitle, at any meeting of the stockholders of a commercial bank, the stockholders may create up to two additional directorships.
(b) The stockholders may leave the two additional directorships vacant, to be filled in the discretion of the board of directors.
The board of directors of a commercial bank may fill any vacancy on the board by electing an individual to serve until the next annual meeting of the stockholders and until a successor is elected and qualifies.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.