§ 5-204
84 words·~1 min read·
/md/corporations-and-associations/5-204·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§5–204.
(a)For purposes of any law or rule relating to members of a nonstock corporation, the directors of a nonstock corporation, under either of the circumstances described in subsection
(b)of this section:
(1)Also constitute the members of the corporation; and
(2)When meeting as directors, may exercise the rights and powers of members.
(b)This section applies if:
(1)Neither the charter nor the bylaws of the corporation provide for members; or
(2)The nonstock corporation in fact has no members.