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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) A majority of the directors and all of the officers of a professional corporation, except the secretary and treasurer, must be qualified persons with respect to the corporation.
(b) Whether or not organized as a close corporation under Title 4 of this article:
(1) The number of directors in a professional corporation may be less than 3;
(2) The officers of a professional corporation may be limited to president, treasurer, and secretary and an individual may hold more than one office; and
(3) Notwithstanding any other provision of law, an individual who holds more than one office in a professional corporation may act in more than one capacity to execute, acknowledge, or verify any instrument required to be executed, acknowledged, or verified by more than one officer.
Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 5-117 - last updated January 01, 2025 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-5-117/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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