(a) Until the first annual meeting of members and until successors are elected and qualified, the board of directors shall consist of:
(1) Individuals named as directors in the articles; or
(2) If no directors are named, the incorporators.
(b) (1) The directors shall be elected by the members or by delegates of the members.
(2) Unless the bylaws provide otherwise, the directors shall be elected at the first annual membership meeting and at each subsequent annual membership meeting, and shall hold office until the next annual membership meeting and until their successors are elected and qualified.
(3) The bylaws may provide for staggered terms of directors and delegates.
Structure Maryland Statutes
Title 5 - Special Types of Corporations
Subtitle 5A - Maryland Consumer Cooperative Act
Section 5-5A-01 - Applicability of Subtitle
Section 5-5A-03 - Incorporation of Consumer or Federated Cooperative; Permissible Business Activity
Section 5-5A-04 - Number Required for Incorporation
Section 5-5A-05 - Formation of Cooperative; Evidence of Membership Interest
Section 5-5A-06 - General Powers
Section 5-5A-07 - Contents of Articles of Incorporation or Bylaws
Section 5-5A-09 - Conversion of Corporation Into Consumer Cooperative; Adoption of Name
Section 5-5A-10 - Use of Word "Cooperative" in Conducting Business
Section 5-5A-12 - Management of Cooperative; Number and Qualifications of Directors
Section 5-5A-13 - Original Directors; Election and Term of Successors
Section 5-5A-14 - Bylaws Provision for Election of Directors and Delegates of Members
Section 5-5A-16 - Removal of Directors, Officers, and Delegates
Section 5-5A-17 - Remuneration of Officers and Directors
Section 5-5A-18 - Eligibility for Membership
Section 5-5A-19 - Meetings; Quorum
Section 5-5A-21 - Amendments to Articles of Incorporation; Action on Bylaws
Section 5-5A-22 - Apportionment of Net Savings
Section 5-5A-23 - Auditing; Annual Report
Section 5-5A-24 - Consolidation, Merger, Transfer of Assets, Dissolution, or Division
Section 5-5A-26 - Applicability of Subtitle
Section 5-5A-27 - Organization of Economic Activity Under Subtitle Not Cause of Illegality in Itself
Section 5-5A-28 - Evidence of Membership Capital Not Security