Md. Code Ann., Fin. Inst. § 3-408
Redline — January 1, 2019 → current.View current text →
Current — January 1, 2021
As of January 1, 2019
(a) Each director of a commercial bank shall attend at least one half of the regularly scheduled board meetings that are held during the director’s term of office.
(b) (1) Any director who fails to attend meetings of the board of directors as required by this section is disqualified automatically from serving as director for a succeeding term.
(2) The Commissioner may waive the disqualification of a director if the director shows to the Commissioner good cause for the failure to attend the meetings.
(a) A majority of the directors of a State bank then serving is a quorum.
(b) The articles of incorporation or bylaws of a trust company may specify the number of directors that is a quorum, but the number shall be at least the greater of one third of the directors or four directors.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.