State Codes and Statutes
Statutes > Maryland > Financial-institutions > Title-6 > Subtitle-3 > 6-326§ 6-326. Director.
(a) Vacancy.- The office of a director becomes vacant if the director:
(1) Dies;
(2) Resigns; or
(3) Is removed.
(b) Removal.- 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.
(c) Majority of vote.-
(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.
[2001, ch. 147, § 1; ch. 148, § 1.]
