Md. Code, Financial Institutions § 3-406
This is the official text of Md. Code, Financial Institutions § 3-406, part of Maryland’s Code, Financial Institutions — regulates banks and lenders.
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§3–406.
Official statutory text
(a) Each director of a commercial bank shall attend at least one half of the regularly scheduled board meetings that are held during the director’s term of office.
(b) (1) Any director who fails to attend meetings of the board of directors as required by this section is disqualified automatically from serving as director for a succeeding term.
(2) The Commissioner may waive the disqualification of a director if the director shows to the Commissioner good cause for the failure to attend the meetings.
(b) (1) Any director who fails to attend meetings of the board of directors as required by this section is disqualified automatically from serving as director for a succeeding term.
(2) The Commissioner may waive the disqualification of a director if the director shows to the Commissioner good cause for the failure to attend the meetings.
Status: in_force · Read it on the official government site
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