Maryland Code, CORPORATIONS AND ASSOCIATIONS 5-332
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 5-332
- 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.
(a) The trustees of a religious corporation subject to this part shall be elected by the congregation of the religious corporation in accordance with its charter.
(b) If a vacancy exists in the office of trustee and the charter of the religious corporation does not provide for filling the vacancy, the congregation of the religious corporation may fill the vacancy.