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§ 3-408. Quorum

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, § 3-408
Formerly cited as MD FIN INST § 3-410
§ 3-408. Quorum
Currentness
In general
(a) A majority of the directors of a State bank then serving is a quorum.
Number of directors that constitutes quorum
(b) The articles of incorporation or bylaws of a trust company may specify the number of directors that is a quorum, but the number shall be at least the greater of one third of the directors or four directors.

Credits

Added as Financial Institutions § 3-410 by Acts 1980, c. 33, § 2, eff. July 1, 1980. Renumbered as Financial Institutions § 3-408 by Acts 2020, c. 498, § 2, eff. Oct. 1, 2020.
MD Code, Financial Institutions, § 3-408, MD FIN INST § 3-408
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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