Maryland Code, FINANCIAL INSTITUTIONS 3-408

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Terms Used In Maryland Code, FINANCIAL INSTITUTIONS 3-408

Quorum: The number of legislators that must be present to do business.
state: means :

(1) a state, possession, territory, or commonwealth of the United States; or

(2) the District of Columbia. See

(a) A majority of the directors of a State bank then serving is a quorum.

(b) The articles of incorporation or bylaws of a trust company may specify the number of directors that is a quorum, but the number shall be at least the greater of one third of the directors or four directors.

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