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§ 3-406. Attendance at board meetings

West's Annotated Code of MarylandFinancial InstitutionsEffective: October 1, 2020

West's Annotated Code of Maryland
Financial Institutions
Title 3. Banking Institutions--Commercial Banks
Subtitle 4. Directors and Officers (Refs & Annos)
Effective: October 1, 2020
MD Code, Financial Institutions, § 3-406
Formerly cited as MD FIN INST § 3-408
§ 3-406. Attendance at board meetings
Currentness
In general
(a) Each director of a commercial bank shall attend at least one half of the regularly scheduled board meetings that are held during the director's term of office.
Failure to attend meetings
(b)(1) Any director who fails to attend meetings of the board of directors as required by this section is disqualified automatically from serving as director for a succeeding term.
(2) The Commissioner may waive the disqualification of a director if the director shows to the Commissioner good cause for the failure to attend the meetings.

Credits

Added as Financial Institutions § 3-408 by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1996, c. 326, § 2, eff. July 1, 1996. Renumbered as Financial Institutions § 3-406 by Acts 2020, c. 498, § 2, eff. Oct. 1, 2020.
MD Code, Financial Institutions, § 3-406, MD FIN INST § 3-406
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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