§ 4-302
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/md/corporations-and-associations/4-302·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§4–302.
(a)An election to have no board of directors becomes effective at the later of:
(1)The time that the organization meeting of directors and the issuance of at least one share of stock of the corporation are completed;
(2)The time the charter document in which the election is made becomes effective; or
(3)The time specified in the charter document in which the election is made.
(b)A director automatically ceases to be a director when an election to have no board of directors becomes effective.