Ch. 472 LAWS OF MARYLAND

Commission, and make such rules for the administration of their office as they deem
expedient; and they may amend or abrogate such rules. Three members of the
Commission shall constitute a quorum to do business; and the concurrence of at least
three commissioners shall be necessary to render a choice or decision by the
Commission, and each member of the Commission shall be entitled to receive his
traveling expenses and other expenses incurred in the performance of his official duties
in accordance with the Standard Travel Regulations, and in addition thereto, the
chairman of the Commission shall receive an annual salary of $3,500, and each of the
other commissioners shall receive a salary of $2,500, the expenses and salaries shall be
payable out of the license fees hereinafter provided. Each of the commissioners sfiall,
upon entering the performance of his duties, be covered by surety bonds in accordance
with the provisions of §§ 46 through 50 of Article 78A of the Annotated Code of
Maryland.

127A.

Subject to the evaluation and reestablishment provisions of the Maryland Program
Evaluation Act, §§ 109 through 113, 115, 120, and 122 of this subtitle creating the State
Athletic Commission and relating to the regulation of boxing shows or wrestling
matches shall terminate and be of no effect after [July 1, 1991] JULY 1, 2001.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 1990.

Approved May 29, 1990.

CHAPTER 472
(Senate Bill 537)

AN ACT concerning

Credit Unions - Board of Directors

FOR the purpose of repealing modifying the authority of the members of a credit union
to overrule the board of directors of the credit union under certain circumstances
where damage to the credit union's financial soundness or an abrogation of
fiduciary responsibility would occur; repealing modifying the requirement that a
board of directors of a credit union perform certain duties that the members of
the credit union require; requiring the board of directors of a credit union to
appoint standing or special committees, as necessary, to carry on the business of
the credit union; and generally relating to the board of directors of a credit union.

BY repealing and reenacting, with amendments,
Article - Financial Institutions
Section 6-211 and 6-214
Annotated Code of Maryland
(1986 Replacement Volume and 1989 Supplement)

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