Md. Code, Corporations and Associations § 4-302
Md. Code, Corporations and Associations § 4-302
in effect(a) An election to have no board of directors becomes effective at the later of:
(1) The time that the organization meeting of directors and the issuance of at least one share of stock of the corporation are completed;
(2) The time the charter document in which the election is made becomes effective; or
(3) The time specified in the charter document in which the election is made.
(b) A director automatically ceases to be a director when an election to have no board of directors becomes effective.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca§ion=4-302&enactments=falseFetched: 10/16/2026