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534 LAWS OF MARYLAND [Ch. 4
(B) PERPETUAL EXISTENCE SUBJECT TO POWER OF
GENERAL ASSEMBLY.--THE TRUST HAS PERPETUAL EXISTENCE
SUBJECT TO MODIFICATION OR TERMINATION BY THE GENERAL
ASSEMBLY IF NECESSARY TO EFFECTUATE ITS PURPOSE OR
WHEN AND IF ITS SUBSTANTIAL PURPOSE CEASES.
REVISOR'S NOTE: This subsection presently appears
as Article 41, section 181M of the Code.
The first sentence is proposed for deletion
and transferred tc subsection (a). The
only other changes made are in style.
3-202. NUMBER OF TRUSTEES; EX OFFICIO TRUSTEES;
SELECTION AND TERMS OF TRUSTEES; COMPENSATION.
(A) A BOARD OF 15 TRUSTEES HAS AND SHALL
EXERCISE THE POWERS AND DUTIES OF THE TRUST. THE
GOVERNOR, THE PRESIDENT OF THE SENATE, AND THE SPEAKER
OF THE HOUSE OF DELEGATES ARE EX OFFICIO MEMBERS OF
THE BOARD OF TRUSTEES. OF THE REMAINING 12 TRUSTEES,
THREE SHALL BE ELECTED EACH YEAR FOR A TERM OF FOUR
YEARS AT ANY REGULAR OR SPECIAL MEETING BY UNANIMOUS
VOTE OF THE TRUSTEES PRESENT. IF AN ELECTED TRUSTEE
FOR ANY REASON FAILS TO SERVE OR COMPLETE ANY ELECTED
TERM, A SUCCESSOR SHALL BE ELECTED FOR THE REMAINDER
OF THE TERM AT ANY REGULAR OR SPECIAL MEETING BY
UNANIMOUS VOTE OF THE TRUSTEES PRESENT. ELECTED
TRUSTEES SHALL BE SELECTED TO OBTAIN A BROAD
DISTRIBUTION FROM THE PROFESSIONS AND OTHER
OCCUPATIONS, AND A BROAD GEOGRAPHICAL DISTRIBUTION
THROUGHOUT THE STATE, INSOFAR AS IS PRACTICABLE AND
CONSISTENT WITH THE PURPOSES OF THE TRUST.
REVISOR'S NOTE: This subsection presently appears
as Article 41, section 181N of the Code.
The provisions concerning initial
appointment of trustees by the Governor for
staggered terms are proposed for deletion
as obsolete. All of the initial
appointments have been completed and the
trustees now are serving regularly elected
terms. The only other changes made are in
style.
(B) A TRUSTEE SERVES WITHOUT COMPENSATION.
REVISOR'S NOTE: This subsection presently appears
as Article 41, section 181—o of the Code.
The only changes made are in style.
3-203. POWERS AND DUTIES OF TRUSTEES.
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