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§ 2-413. Election, term and removal of officers

West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2021

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, 2021
MD Code, Corporations and Associations, § 2-413
§ 2-413. Election, term and removal of officers
Currentness
Officers elected
(a) Unless the bylaws provide otherwise, the board of directors shall elect the officers.
Terms
(b) Unless the bylaws provide otherwise, an officer serves for one year and until his successor is elected and qualifies.
Removal
(c)(1) The board of directors may remove any officer or agent of the corporation.
(2) The removal of an officer or agent does not prejudice any of his contract rights.
Vacancies
(d) Unless the bylaws provide otherwise, the board of directors may fill a vacancy which occurs in any office.

Credits

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 2021, c. 779, § 1, eff. Oct. 1, 2021; Acts 2021, c. 780, § 1, eff. Oct. 1, 2021.
Formerly Art. 23, §§ 60, 61.
MD Code, Corporations and Associations, § 2-413, MD CORP & ASSNS § 2-413
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.
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