Section 5-204 - Directors as members. - Maryland Statutes

§ 5-204. Directors as members.
 

(a)  In general.- 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)  Application of section.- 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. 
 

[An. Code 1957, art. 23, § 134; 1975, ch. 311, § 2; 1981, ch. 318.]