§ 3–409
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 3-409 (2026)
Title 3. Banking Institutions -- Commercial Banks
Subtitle 4. Directors and Officers
§ 3–409LinkCopy Citation
(a)
Within 15 days after the annual meeting of the stockholders and after the directors–elect have qualified, the board of directors of a commercial bank shall meet and elect the officers of the commercial bank.
(b)
Unless the bylaws provide otherwise, each officer serves for a term of 1 year and until a successor is elected and qualifies.
(c)
The board of directors may remove any officer at any time.