§ 5–117
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 5-117 (2026)
Title 5. Special Types of Corporations
Subtitle 1. Professional Service Corporations
§ 5–117LinkCopy Citation
(a)
A majority of the directors and all of the officers of a professional corporation, except the secretary and treasurer, must be qualified persons with respect to the corporation.
(b)
Whether or not organized as a close corporation under Title 4 of this article:
(1)
The number of directors in a professional corporation may be less than 3;
(2)
The officers of a professional corporation may be limited to president, treasurer, and secretary and an individual may hold more than one office; and
(3)
Notwithstanding any other provision of law, an individual who holds more than one office in a professional corporation may act in more than one capacity to execute, acknowledge, or verify any instrument required to be executed, acknowledged, or verified by more than one officer.