Home Table of Contents

§ 2-402. Minimum number of directors

West's Annotated Code of MarylandCorporations and Associations

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)
MD Code, Corporations and Associations, § 2-402
§ 2-402. Minimum number of directors
Currentness
One director
(a) Each corporation shall have at least one director.
Charter
(b) Subject to the provisions of subsection (a) of this section and except for a corporation that has elected to be subject to § 3-804(b) of this article, a Maryland corporation shall have the number of directors provided in its charter until changed by the bylaws.
Bylaws
(c) Subject to the provisions of subsection (a) of this section and except for a corporation that has elected to be subject to § 3-804(b) of this article, the bylaws may:
(1) Alter the number of directors set by the charter; and
(2) Authorize a majority of the entire board of directors to alter within specified limits the number of directors set by the charter or the bylaws, but the action may not affect the tenure of office of any director.

Credits

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1977, c. 690; Acts 1985, c. 110, § 3; Acts 1985, c. 362; Acts 1999, c. 300, § 1, eff. June 1, 1999; Acts 2000, c. 642, § 1, eff. June 1, 2000.
Formerly Art. 23, § 53.
MD Code, Corporations and Associations, § 2-402, MD CORP & ASSNS § 2-402
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