Source: https://law.justia.com/codes/maryland/2013/article-gca/section-3-804/
Timestamp: 2019-12-13 12:37:40
Document Index: 310621778

Matched Legal Cases: ['§ 3', '§ 3', '§ 3', '§ 3', '§3', '§ 2', '§ 8', '§ 2']

§ 3-804 - Directors -- Removal, number, and vacancy :: 2013 Maryland Code :: US Codes and Statutes :: US Law :: Justia
Justia US Law US Codes and Statutes Maryland Code 2013 Maryland Code CORPORATIONS AND ASSOCIATIONS § 3-804 - Directors -- Removal, number, and vacancy
§ 3-804 - Directors -- Removal, number, and vacancy
MD Corp & Assn Code § 3-804 (2013) What's This?
§3-804.
(a) Notwithstanding any other lesser proportion of votes required by a provision in the charter or the bylaws, but subject to § 2-406(b)(3) or § 8-205(b)(3) of this article the stockholders of a corporation may remove any director by the affirmative vote of at least two-thirds of all the votes entitled to be cast by the stockholders generally in the election of directors.
(b) Subject to § 2-402(a) of this article but notwithstanding any provision in the charter or bylaws, the number of directors of a corporation shall be fixed only by vote of the board of directors.
(c) (1) Notwithstanding any provision in the charter or bylaws, this subsection applies to a vacancy that results from:
(i) An increase in the size of the board of directors; or
(ii) The death, resignation, or removal of a director.
(2) Each vacancy on the board of directors of a corporation may be filled only by the affirmative vote of a majority of the remaining directors in office, even if the remaining directors do not constitute a quorum.
(3) Any director elected to fill a vacancy shall hold office:
(i) For the remainder of the full term of the class of directors in which the vacancy occurred; and
(ii) Until a successor is elected and qualifies.