832 LAWS OF MARYLAND. [CH. 504

Edition), title "Workmen's Compensation", sub-title "State
Accident Fund", be and the same are hereby repealed; and
that three new Sections be and the same are hereby en-
acted in lieu thereof, to be known as Sections 16, 16A and
17, to follow immediately after Section 15 of said Article,
said new Sections to read as follows:

16. There shall be a "State Accident Fund", for the
purpose of insuring employers against liability under this
Article and to their employees and their dependents the
payment of the compensation specified in this Article. Such
fund shall consist of all premiums or taxes received and
paid into the fund and of property and securities acquired
and interest earned through the use of moneys belonging
to the Fund. Said Fund shall be applicable to the pay-
ment of losses sustained on account of insurance and to the
payment of expenses in the manner provided in this
Article.

16A. There is hereby created an agency of the State to
be known as the "Commissioners of the State Accident
Fund", to be composed of five Commissioners appointed by
the Governor, with the powers and duties hereinafter pre-
scribed. The Commissioners shall be selected from among
the employers, employees or other citizens of the State, as
the Governor may determine. The first appointments
hereunder shall be for terms of one, two, three, four and
five years, respectively, from June 1, 1941, and until their
successors are appointed and have qualified; thereafter
appointments shall be for terms of five years each. Va-
cancies shall be filled by the Governor for the unexpired
term. Said Commissioners shall elect annually a Chair-
man, Vice-Chairman and Secretary. The concurrence of
at least three Commissioners shall be necessary in all mat-
ters. Said Commissioners shall receive for their services
Twenty Dollars ($20. 00) for each day devoted to the busi-
ness of the State Accident Fund, provided, however, that
the Chairman shall not receive more than Fifteen Hundred
Dollars ($1, 500. 00) per year, and the other Commission-
ers shall not receive more than Six Hundred Dollars
($600. 00) per year each. In addition thereto they shall be
entitled to their actual and necessary traveling and other
expenses while engaged in transacting the business of the
State Accident Fund, other than attending meetings of the
Commissioners.

The Superintendent of the State Accident Fund and
the present personnel employed in the management of the
Accident Fund, shall be transferred to the agency hereby