Maryland Statutes

§ 5-204

Maryland·Article gca Corporations and Associations·Title 5
(a)For purposes of any law or rule relating to members of a nonstock corporation, the directors of a nonstock corporation, under either of the circumstances described in subsection (b) of this section:
(1)Also constitute the members of the corporation; and
(2)When meeting as directors, may exercise the rights and powers of members.
(b)This section applies if:
(1)Neither the charter nor the bylaws of the corporation provide for members; or
(2)The nonstock corporation in fact has no members.

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