Md. Code, Financial Institutions § 3-409
Md. Code, Financial Institutions § 3-409
in effect(a) Within 15 days after the annual meeting of the stockholders and after the directors–elect have qualified, the board of directors of a commercial bank shall meet and elect the officers of the commercial bank.
(b) Unless the bylaws provide otherwise, each officer serves for a term of 1 year and until a successor is elected and qualifies.
(c) The board of directors may remove any officer at any time.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi§ion=3-409&enactments=falseFetched: 10/17/2026