Board of directors -- Tenure; vacancies

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    (a)    (1)    Except as provided in subsection (b) of this section, the term of each director elected or appointed under § 25–303 of this subtitle is 3 years.

        (2)    Each director shall serve until a successor is elected or appointed.

    (b)    A director who is elected or appointed to fill a vacancy caused by death or resignation shall hold the office for the rest of the term and until a successor is elected or appointed.


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