Section 5-204 - Directors as Members

(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.