§ 6-326
107 words·~1 min read·
/md/financial-institutions/6-326A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§6–326.
(a)The office of a director becomes vacant if the director:
(1)Dies;
(2)Resigns; or
(3)Is removed.
(b)A director may be removed from office:
(1)By the board, in accordance with the bylaws, if the director:
(i)Does not possess or maintain the qualifications required to serve on the board; or
(ii)Is absent from three consecutive regular meetings of the board unless excused; or
(2)By the members.
(1)Unless the bylaws provide otherwise, the remaining directors by majority vote shall fill a vacancy.
(2)A director elected by the board to fill a vacancy holds office as the bylaws provide.