Md. Code Ann., Fin. Inst. § 3-406
Attendance at board meetings
Effective Oct 1, 2020Added as Financial Institutions § 3-408 by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1996, c. 326, § 2, eff. July 1, 1996. Renumbered as Financial Institutions § 3-406 by Acts 2020, c. 498, § 2, eff. Oct. 1, 2020.State of Maryland
- (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.
Added as Financial Institutions § 3-408 by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1996, c. 326, § 2, eff. July 1, 1996. Renumbered as Financial Institutions § 3-406 by Acts 2020, c. 498, § 2, eff. Oct. 1, 2020.