# Financial Institutions (GFI)

## Title 3. Banking Institutions -- Commercial Banks

### Subtitle 4. Directors and Officers

#### Section 3-409

(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.

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Md. Code Ann., Fin. Inst. (as displayed at mgaleg.maryland.gov, October 16, 2026)