78                                 Laws of Maryland                        [Ch. 30

Such insurance coverage shall be in such form and amount as the
Commission may determine, subject to the requirements of any
agreement or indenture arising out of the issuance of bonds by
the Commission. The Commission shall obtain insurance against
liability for injury to persons and damage to property in such
amounts as the Commission shall determine.

15.04. Employees' Benefits.—The Commission shall have au-
thority to elect to be covered by the provisions of any law of any
signatory relating to employee benefits, in order that its employees
may be eligible for such benefits, and upon such election the Com-
mission shall be deemed an employer within the meaning of such
laws of each signatory, and the Commission shall have authority
to elect to be removed from any such coverage; provided, that such
election shall relate only to those laws under which benefits may
be paid to employees of nongovernmental employers, and that all
provisions of such laws relating to nongovernmental employers
shall apply to the Commission. The Commission is authorized to
agree with any agency of any signatory which administers a re-
tirement system for all, or any class of, employees of such signatory,
whereby all or any classes of officers and employees of the Com-
mission may be included within such retirement system, and every
agency of each signatory which administers a retirement system
is authorized to so agree with the Commission; provided, that any
such agreement may provide that the Commission or its officers
and employees to be included in such retirement system, or both,
shall contribute to said system such amounts as will defray on
an actuarially sound basis all benefits payable to officers and em-
ployees of the Commission, but excluding the costs of operation.

15.05. Prohibited Activities.—(a) No commissioner, officer or
employee shall:

(1)  Be a contractor or subcontractor with the Commission or its
agents, or have a material financial interest, direct or indirect, in
any contract, subcontract, or job of work, or materials, or the
profits or contract price thereof, or any services to be furnished
or performed for the Commission for pay under any contract or
subcontract, unless pursuant to an award or contract let after
competitive bidding; provided, however, the foregoing shall not
apply to the purchase from or sale to the Commission of any real
property if the purchase or sale and the terms thereof are approved
in advance by unanimous vote of the entire Commission, nor shall
the foregoing apply to any transaction where the amount or value
does not exceed a maximum to be fixed from time to time by the
Commission by regulation.

(2)  Solicit or accept money or other thing of value in addition
to the compensation, expenses or other remuneration paid him by
the Commission or pursuant to Section 2.04 of this compact for
services performed within the scope of his official duties.

(3)  Offer or accept money or any other thing of value for or in
consideration of obtaining an appointment, promotion or privilege
in his employment with the Commission.

(b) The Commission may, by regulation, specify particular in-
terest or classes of interest which shall not be deemed direct or
indirect material financial interests within the meaning of this
section.