A. The Secretary shall appoint seven persons to serve as the Board. The Board shall be composed of:
- (1) Two representatives from the Department;
- (2) Two executive branch representatives, with one from an executive agency of State government which issues revenue bonds;
- (3) One representative from the Office of the Treasurer;
- (4) One public member experienced in investment banking and the issuance of securities; and
- (5) One public member experienced as an attorney in the issuance of revenue bonds.
- B. The public members of the Board shall serve for a term of 4 years or until their successors are appointed, with the first terms beginning on July 1, 1995, and subsequent terms in each 4-year succeeding period. A member appointed to fill a vacancy in an unexpired term, or to succeed a member who is holding over, serves for the remainder of the term only.
- C. The members serve without compensation, but the public members are entitled to reimbursement for expenses under the standard State travel regulations.
Authority: Housing and Community Development Article, §§2-202 and 4-213, Annotated Code of Maryland
Effective date: July 29, 1996 (23:15 Md. R. 1086)
Regulation .03 amended effective April 5, 1999 (26:7 Md. R. 536)
Regulation .05D amended effective April 5, 1999 (26:7 Md. R. 536)