Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2025 | Updated by Findlaw Staff
(a) The charter of each nonstock corporation formed after June 1, 1951, shall provide that the corporation has no authority to issue capital stock.
(b) Notwithstanding any other provision of this article, the charter or bylaws of a nonstock corporation may:
(1) Divide the directors or members of the corporation into classes;
(2) Prescribe the tenure and conditions of service of its directors, but no class of directors may be elected to serve for a period shorter than the interval between annual meetings unless:
(i) All or a class of directors must be members; and
(ii) Qualifications for membership have the effect of shortening their tenure of service;
(3) Provide that an individual may serve as a director by reason of serving in a specified office or position within or outside the corporation and prescribe that the individual shall serve as a director during the individual's service in the specified office or position;
(4) Prescribe the rights, privileges, and qualifications of its members;
(5) Prescribe the manner of giving notice of any meeting of its members;
(6) Provide for the number or proportion of voting members whose presence in person or by proxy constitutes a quorum at any meeting of its members;
(7) Provide that any action may be taken or authorized by any number or proportion of the votes of all its members or all its directors entitled to vote;
(8) Deny or limit the right of its members to vote by proxy;
(9) Provide for the right of members to vote by mail or by electronic transmission on a stated proposal or for the election of directors or any officers who are elected by members;
(10) Regulate the management of the business and affairs of the corporation; and
(11) Regulate the exercise or allocation of voting power between or among the directors and members.
Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 5-202 - last updated January 01, 2025 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-5-202/
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.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)