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The Annotated Code of the Public General Laws of Maryland, 1939
Volume 379, Page 2933   View pdf image (33K)
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trustees so elected shall begin immediately following their election and
shall expire August 1, 1929, and August 1, 1931, respectively.

(3) If a vacancy occurs in the office of a trustee, the vacancy shall be
filled for the unexpired term in the same manner as the office was pre-
viously filled.

(4) The trustees shall serve without compensation, but they shall be
reimbursed from the Expense Fund for all necessary expenses that they
may incur through service on the Board.

(5) Each trustee shall, within ten days after his appointment or elec-
tion, take an oath of office that, so far as it devolves upon him he will
diligently and honestly administer the affairs of the said Board, and that
he will not knowingly violate or willingly permit to be violated any of the
provisions of law applicable to the retirement system. Such oath shall be
subscribed to by the member making it, and certified by the officer before
whom it is taken, and immediately filed in the office of the Secretary of

(6) Each trustee shall be entitled to one vote in the Board. Three
votes shall be necessary for a decision by the trustees at any meeting of
said Board.

(7) Subject to the limitations of this sub-title the Board of Trustees
shall, from time to time, establish rules and regulations for the administra-
tion of the funds created by this sub-title and for the transaction of its

(8) The Board of Trustees shall elect from its membership a chairman
and shall by a majority vote of all its members appoint a secretary, who
may be, but need not be, one of its members. It shall engage such actuarial
and other service as shall be required to transact the business of the
retirement system. The compensation of all persons engaged by the
Board of Trustees, and all other expenses of the Board necessary for the
operation of the retirement system shall be paid at such rates and in such
amounts as the Board of Trustees shall approve, and in accordance with
appropriation made by the General Assembly.

(9) The Board of Trustees shall keep in convenient form such data as
shall be necessary for actuarial valuation of the various funds of the
retirement system, and for checking the experience of the system.

(10) The Board of Trustees shall keep a record of all its proceedings
which shall be open to public inspection. It shall publish annually on or
before the first day of January a report showing the fiscal transactions of
the retirement system for the preceding school year, the amount of the accu-
mulated cash and securities of the system, and the last balance sheet show-
ing the financial condition of the system by means of an actuarial valuation
of the assets and liabilities of the retirement system.

Legal Adviser.

(11) The Attorney General of the State of Maryland shall be the legal
adviser of the Board of Trustees.

Medical Board.

(12) The Board of Trustees shall designate a Medical Board to be com-
posed of three physicians not eligible to participate in the retirement sys-
tem. If required, other physicians may be employed to report on special
cases. The Medical Board shall arrange for and pass upon all medical


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The Annotated Code of the Public General Laws of Maryland, 1939
Volume 379, Page 2933   View pdf image (33K)
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