HERBERT R. O'CONOR, GOVERNOR. 755

(1) Receivers, trustees, administrators, executors, guard-
ians or other persons appointed by or acting under the judg-
ment or order of any court; nor

(2) public officers while performing their official duties as
such; nor

(3) any bank, trust company or mortgage loan institution
organized under the laws of this State or the United States
with respect to the management or sale of any property ac-
quired through or in connection with mortgage foreclosures;
nor

(4) owners or lessors of property in the management and
sale of such property unless their principal and regular busi-
ness is that of purchasing, selling, exchanging or trading in
real estate and options and leases thereon; nor

(5) investment home builders with respect to the sale or
rental of houses constructed by them;

(6) attorneys at law who are not regularly engaged in the
real estate business and who do not hold themselves out by
sign, advertisement or otherwise as offering to the general
public the services authorized by this sub-title to be performed
by real estate brokers; nor

(7) any person holding in good faith a duly executed power
of attorney from the actual owner authorizing the sale and
conveyance or leasing of any real estate, where only one such
transaction is involved; nor

(8) any duly licensed auctioneer with respect to the sale
of real estate at public auction.

286. Create Commission. There is hereby created the Real
Estate Commission of Maryland. The Governor shall imme-
diately appoint three persons, one of whom and the Chairman
of the Commission shall be the chief of the License Bureau of
the State of Maryland, and two of whom shall have been citi-
zens and residents of this State for not less than five years
and whose vocation for a period of at least ten years imme-
diately preceding their appointment shall have been that of
a real estate broker or a real estate salesman. The Chief of
the License Bureau and his successors shall serve during their
respective terms of office as such; one of the other two mem-
bers shall be a resident of Baltimore City and one a resident
elsewhere in the State of Maryland; one shall be appointed
for a term of two years and one for a term of four years; and
until their successors are appointed and qualify, thereafter
one member shall be appointed every second year for a term
of four years and until their successors are appointed and
qualify. Members to fill vacancies shall be appointed by the
Governor for the unexpired term.