§ 3-407

Md. Code Ann., Fin. Inst. § 3-407

Vacancies on board

Effective Oct 1, 2020Added as Financial Institutions § 3-409 by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 2008, c. 89, § 1, eff. Oct. 1, 2008. Renumbered as Financial Institutions § 3-407 by Acts 2020, c. 498, § 2, eff. Oct. 1, 2020.State of Maryland

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.

Added as Financial Institutions § 3-409 by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 2008, c. 89, § 1, eff. Oct. 1, 2008. Renumbered as Financial Institutions § 3-407 by Acts 2020, c. 498, § 2, eff. Oct. 1, 2020.