1802

LAWS OF MARYLAND

[Ch. 311

time has expired is deleted as obsolete.
6-152. DIRECTORS - ATTENDANCE AT MEETINGS.

(A)   ATTENDANCE REQUIRED.

EACH DIRECTOR OF A BANKING INSTITUTION SHALL
ATTEND AT LEAST 50 PERCENT OF THE REGULARLY SCHEDULED
MEETINGS OF ITS BOARD OF DIRECTORS HELD DURING HIS TERM
OF OFFICE.

(B)   DISQUALIFICATION FOR ADDITIONAL TERMS.

(1)   ANY DIRECTOR WHO FAILS TO ATTEND MEETINGS
OF THE BOARD OF DIRECTORS AS REQUIRED IS DISQUALIFIED
AUTOMATICALLY FROM SERVING AS DIRECTOR FOR AN ENSUING
TERM.

(2)     THE COMMISSIONER MAY WAIVE A
DISQUALIFICATION IF THE DISQUALIFIED DIRECTOR PROPERLY
PRESENTS TO THE COMMISSIONER DUE CAUSE FOR HIS FAILURE TO
ATTEND THE MEETINGS.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11,
§108D.

The terms "banking institution" and
"Commissioner" are defined in §6—101 of this
subtitle.

6-153. ADDITIONAL DIRECTORSHIPS.

(A)   PERMITTED.

AT ANY MEETING OF THE STOCKHOLDERS OF ANY BANKING
INSTITUTION, THEY MAY ELECT TWO ADDITIONAL DIRECTORSHIPS.

(B)   DIRECTORS MAY FILL.

THE STOCKHOLDERS MAY LEAVE THE TWO ADDITIONAL
DIRECTORSHIPS VACANT, TO BE FILLED IN THE DISCRETION OF
THE CURRENT DIRECTORS BETWEEN MEETINGS OF THE
STOCKHOLDERS.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11,
§108C.

The term "banking institution" is defined in
§6-101(b) of this subtitle.

6-154. DUAL DIRECTORSHIPS.