(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.
Structure Maryland Statutes
Title 3 - Banking Institutions -- Commercial Banks
Subtitle 4 - Directors and Officers
Section 3-401 - Management of Commercial Bank
Section 3-402 - Number of Directors
Section 3-403 - Qualifications of Directors
Section 3-404 - Oath of Directors
Section 3-405 - Election of Directors
Section 3-406 - Attendance at Board Meetings