Home Table of Contents

§ 2-401. Power of board of directors

West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2016

West's Annotated Code of Maryland
Corporations and Associations
Title 2. Corporations in General--Formation, Organization, and Operation (Refs & Annos)
Subtitle 4. Directors and Officers (Refs & Annos)
Effective: October 1, 2016
MD Code, Corporations and Associations, § 2-401
§ 2-401. Power of board of directors
Currentness
All business and affairs
(a) All business and affairs of a corporation, whether or not in the ordinary course, shall be managed by or under the direction of a board of directors.
Powers reserved to stockholders
(b) All powers of the corporation may be exercised by or under authority of the board of directors except as conferred on or reserved to the stockholders by law or by the charter or bylaws of the corporation.

Credits

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1976, c. 567, § 2; Acts 2016, c. 170, § 1, eff. Oct. 1, 2016; Acts 2016, c. 171, § 1, eff. Oct. 1, 2016.
Formerly Art. 23, § 52.
MD Code, Corporations and Associations, § 2-401, MD CORP & ASSNS § 2-401
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document