HARRY HUGHES, Governor

651

CHAPTER 115

(Senate Bill 435)

AN ACT concerning

Corporations - Officers

FOR the purpose of eliminating the requirement that the
president of a Maryland corporation be a member of the
board of directors.

BY repealing and reenacting, with amendments,

Article - Corporations and Associations

Section 2-412

Annotated Code of Maryland

(1975 Volume and 1978 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article - Corporations and Associations

2-412.

(a)  Each Maryland corporation shall have the following
officers:

(1)  A president[, who shall be a director of the
corporation];

(2)  A secretary; and

(3)  A treasurer.

(b)  In addition to the required officers, a Maryland
corporation may have any other officer provided for in the
bylaws.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1979.

Approved May 1, 1979.

CHAPTER 116
(Senate Bill 443)