Home Table of Contents

§ 6-330. Officers

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 6. Credit Unions (Refs & Annos)
Subtitle 3. Formation, Organization, and Powers (Refs & Annos)
Part IV. Officials and Officers
MD Code, Financial Institutions, § 6-330
§ 6-330. Officers
Currentness
Election of officers
(a) Within 15 days after the annual meeting of the members and after the directors-elect have qualified, the board shall meet and elect the officers of the credit union.
Term and duties of president
(b) Unless the bylaws provide otherwise:
(1) Each officer serves for a term of 1 year and until a successor is elected and qualifies; and
(2) The president shall be the chief executive officer who shall be responsible for the day to day operations of the credit union.
Removal of officers
(c) Subject to the provisions of an enforceable employment contract, if any, the board may remove an officer at any time.

Credits

Added as Financial Institutions § 6-216 by Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1980, c. 318. Renumbered from Financial Institutions § 6-330 by Acts 2001, c. 147, § 1, eff. Oct. 1, 2001; Acts 2001, c. 148, § 1, eff. Oct. 1, 2001.
MD Code, Financial Institutions, § 6-330, MD FIN INST § 6-330
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.
End of Document