§ 5–204
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 5-204 (2026)
Title 5. Special Types of Corporations
Subtitle 2. Nonstock Corporations
§ 5–204LinkCopy Citation
(a)
For purposes of any law or rule relating to members of a nonstock corporation, the directors of a nonstock corporation, under either of the circumstances described in subsection (b) of this section:
(1)
Also constitute the members of the corporation; and
(2)
When meeting as directors, may exercise the rights and powers of members.
(b)
This section applies if:
(1)
Neither the charter nor the bylaws of the corporation provide for members; or
(2)
The nonstock corporation in fact has no members.