Maryland Code, CORPORATIONS AND ASSOCIATIONS 5-307
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 5-307
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Trustee: A person or institution holding and administering property in trust.
(1) Keep an accurate record book;
(2) Allow inspection of the record book by members of the religious corporation; and
(3) Allow the proceedings recorded in the record book to be presented before a public meeting, if required by five or more members of the religious corporation.
(b) Unless the plan provides otherwise, the trustees shall be elected and their successors continued at the time and place ordinarily used for public meetings of the church, by the individuals who, according to the custom and usage of the church, have a voice in the management and direction of congregational or temporal affairs.
(c) Unless the plan permits otherwise, the minister of the church or, if there is more than one minister, the senior minister shall be a trustee of the religious corporation, in addition to the trustees required by § 5-302(b)(1) of this subtitle.