Section 2-402 - Number of directors. - Maryland Statutes

§ 2-402. Number of directors.
 

(a)  Minimum number.- Each corporation shall have at least one director. 

(b)  Charter provision.- Subject to the provisions of subsection (a) of this section and except for a corporation that has elected to be subject to § 3-804(b) of this article, a Maryland corporation shall have the number of directors provided in its charter until changed by the bylaws. 

(c)  Bylaws provision.- Subject to the provisions of subsection (a) of this section and except for a corporation that has elected to be subject to § 3-804(b) of this article, the bylaws may: 

(1) Alter the number of directors set by the charter; and 

(2) Authorize a majority of the entire board of directors to alter within specified limits the number of directors set by the charter or the bylaws, but the action may not affect the tenure of office of any director. 
 

[An. Code 1957, art. 23, § 53; 1975, ch. 311, § 2; 1977, ch. 690; 1985, ch. 110, § 3; ch. 362; 1999, ch. 300; 2000, ch. 642.]