Md. Code Ann., Fin. Inst. § 6-330
Officers
Effective Oct 1, 2001Added as Financial Institutions § 6-216 by Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1980, c. 318. Renumbered from Financial Institutions § 6-330 by Acts 2001, c. 147, § 1, eff. Oct. 1, 2001; Acts 2001, c. 148, § 1, eff. Oct. 1, 2001.State of Maryland
- (a) Within 15 days after the annual meeting of the members and after the directors-elect have qualified, the board shall meet and elect the officers of the credit union.
(b) Unless the bylaws provide otherwise:
- (1) Each officer serves for a term of 1 year and until a successor is elected and qualifies; and
- (2) The president shall be the chief executive officer who shall be responsible for the day to day operations of the credit union.
- (c) Subject to the provisions of an enforceable employment contract, if any, the board may remove an officer at any time.
Added as Financial Institutions § 6-216 by Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1980, c. 318. Renumbered from Financial Institutions § 6-330 by Acts 2001, c. 147, § 1, eff. Oct. 1, 2001; Acts 2001, c. 148, § 1, eff. Oct. 1, 2001.