State Codes and Statutes
Statutes > Maryland > Financial-institutions > Title-7 > Subtitle-1 > 7-108§ 7-108. Same - Voting by members.
(a) In general.- In the election of directors and in voting on any other matter at a meeting of the members of the Corporation, each member has one vote, to be cast by its delegate.
(b) Delegate to represent only one member.- A delegate may not vote on behalf of more than one member.
(c) Majority vote sufficient for action.- A majority of the votes cast is sufficient to elect directors or decide any question voted on by the members.
[An. Code 1957, art. 23, § 453; 1980, ch. 33, § 2; 2002, ch. 540.]
