§ 6-326. Directors -- Vacancy or removal; filling vacancy

MD Fin Inst Code § 6-326 (2019) (N/A)
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(a)    The office of a director becomes vacant if the director:

(1)    Dies;

(2)    Resigns; or

(3)    Is removed.

(b)    A director may be removed from office:

(1)    By the board, in accordance with the bylaws, if the director:

(i)    Does not possess or maintain the qualifications required to serve on the board; or

(ii)    Is absent from three consecutive regular meetings of the board unless excused; or

(2)    By the members.

(c)    (1)    Unless the bylaws provide otherwise, the remaining directors by majority vote shall fill a vacancy.

(2)    A director elected by the board to fill a vacancy holds office as the bylaws provide.