§ 6–326

Statutes in effect as of October 1, 2026.

Md. Code Ann., Fin. Inst. § 6-326 (2026)

Title 6. Credit Unions

Subtitle 3. Formation, Organization, and Powers

(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.