State Codes and Statutes
Statutes > Maryland > Corporations-and-associations > Title-5 > Subtitle-2 > 5-204§ 5-204. Directors as members.
(a) In general.- 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) Application of section.- 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.
[An. Code 1957, art. 23, § 134; 1975, ch. 311, § 2; 1981, ch. 318.]
