Section 5-513 - Original directors; election and term of successors. - Maryland Statutes

§ 5-513. Original directors; election and term of successors.
 

(a)  Original directors.- Until the first annual meeting of members and until successors are elected and qualify, the board of directors consists of: 

(1) The individuals named as directors in the charter; or 

(2) If no directors are named, the incorporators. 

(b)  Election and term of directors.-  

(1) The directors shall be elected by the members. 

(2) Unless the bylaws provide otherwise, the directors shall be elected at the first annual meeting of members and at each subsequent annual meeting and shall hold office until the next annual meeting and until their successors are elected and qualify. 
 

[An. Code 1957, art. 23, § 360; 1975, ch. 311, § 2.]