Legal Question in Real Estate Law in Maryland
What are the duties of a board of directors that are not specified in the by-laws?
Asked on 9/08/10, 4:26 pm
2 Answers from Attorneys
Phillip M. Cook
Cook Legal Services, LLC
It depends on what type of entity the board of directors relates to. Different Maryland statutes govern the basic duties of boards of directors not covered in written by-laws.
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Answered on 9/13/10, 7:29 pm
Cedulie Laumann
Arden Law Firm, LLC
The board owes such duties as loyalty, care, adherence to the company's directives and so forth whether or not enumerated in the bylaws. The bylaws naturally contain other specifics. Beyond that you may want to consult with a business attorney in this jurisdiction regarding a specific corporation's bylaws and/or general set-up.
Answered on 9/14/10, 6:02 am