Maryland § 7-109
Full text of Maryland Maryland Code § 7-109, with citation guidance and answers to common questions.
§ 7-109.
(a) The powers of the Corporation shall be exercised by its Board of Directors.
(b) The Board of Directors consists of 11 directors elected by the members of the Corporation.
(c) Each director shall be a resident of this State.
(d) (1) Each director serves for a term of 4 years and until a successor is chosen and qualifies.
(2) The terms of the directors shall be staggered as required by the terms provided for directors on July 1, 1988.
(3) If a vacancy occurs as to an elected director, the Board of Directors shall elect a successor to fill the vacancy until the next annual meeting of the members of the Corporation. At the annual meeting, the members of the Corporation shall elect a successor to serve for the rest of the term and until a successor is elected and qualifies.
(e) A majority of the full authorized membership of the Board of Directors is a quorum.
(f) Each director is entitled to reasonable compensation, as set by the Board of Directors with the approval of the Commissioner.
Frequently Asked Questions About Maryland § 7-109
What does Maryland Code § 7-109 cover?
Section 7-109 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 7-109?
A common citation format is "Maryland Code § 7-109" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 7-109 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.