684                             LAWS OF MARYLAND                      [CH. 332

161E.

(b) The Board of Building, Savings and Loan Association Com-
missioners shall consist of seven (7) members who shall be appointed
by the Governor with the advice and consent of the Senate. Each of
the members shall have been a resident and registered voter of the
State of Maryland [and] for at least five years next preceding his
appointment. Four of the members shall have been engaged as [an
officer or director] officers or directors of, or attorneys for, a build-
ing association, the principal place of business of which is located in
this State, for at least [the] five [-] years [period] next preceding
[his] their respective appointments. [At least] [t] Three (3) of
[the] such industry members shall have been actively engaged as
officers or directors of, or attorneys for, a building association char-
tered or incorporated under the laws of the State of Maryland, free
share accounts of which are not insured by an instrumentality of the
United States government. [At least] [o] One (1) of [the] such
industry members shall have been actively engaged as an officer or
director of, or attorney for, an association, free share accounts of
which are insured by an instrumentality of the United States govern-
ment. The remaining three (3) members shall be selected from the
public at large. Such public members shall not have served during
the twelve months next preceding their appointment as officers or
directors of, or attorneys for, any association, and shall not so serve
while members of the Board. At least three (3) [of the] members
shall be residents of Baltimore City. At least three (3) [of the]
members shall be residents of the counties of Maryland. For pur-
poses of geographical qualification, an industry member may be con-
sidered either a resident of the subdivision in which is located the
principal place of business of the association for which he serves
as an officer, director, or attorney, or, in the alternative, a resident
of the subdivision in which he actually resides. £ However, three
(3) of the members shall be selected from the public at large. Said
at large members shall not have held, for a period of at least twelve
months immediately prior to their appointment, and shall not hold
office while a member of the board, any office or directorship in any
association. A practicing attorney may be a member of the Board
unless he is or has been within the twelve-month period next preced-
ing his appointment regularly employed by an association or a title
company.] The term of office of the members of said Board shall be
four (4) years, commencing on the first day of June next [ensuing]
following their respective appointments, except as hereinafter pro-
vided, and such members [,] shall hold office until their respective
successors have been appointed and qualified. Any vacancy on the
Board shall be filled by the Governor for the unexpired term created
thereby. Initially, three (3) of the members shall be appointed to
serve from the first day of June, 1961, through the 31st day of May,
1965. All members of the Board shall serve without compensation,
but shall be reimbursed for necessary and proper expenses incurred
while actually engaged in the performance of their duties as members.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1967.

Approved April 14, 1967.