MARVIN MANDEL, Governor                               1967

OF THE DEPARTMENT OF LAW.

(B)   SECURITIES COMMISSIONER.

(1)   THE PRINCIPAL EXECUTIVE OFFICER OF THE
DIVISION OF SECURITIES SHALL BE THE SECURITIES
COMMISSIONER TO BE APPOINTED BY THE ATTORNEY GENERAL, WHO
ALSO SHALL HAVE THE POWER TO EMPLOY THOSE OFFICERS AND
EMPLOYEES NECESSARY TO CARRY OUT THE PURPOSES OF THIS
TITLE.

(2)   THE SECURITIES COMMISSIONER SHALL BE A
PRACTICING LAWYER OF THIS STATE IN GOOD STANDING, SHALL
HOLD HIS OFFICE AT THE PLEASURE OF THE ATTORNEY GENERAL,
AND SHALL RECEIVE THE SALARY PROVIDED IN THE STATE
BUDGET.

(C)   ASSISTANT SECURITIES COMMISSIONER.

THE ATTORNEY GENERAL ALSO SHALL APPOINT AN
ASSISTANT SECURITIES COMMISSIONER WHO, AFTER
APPOINTMENT, SHALL HOLD HIS POSITION SUBJECT GENERALLY TO
THE PROVISIONS OF ARTICLE 64A OF THE CODE. IF A VACANCY
OCCURS IN THE POSITION OF ASSISTANT SECURITIES
COMMISSIONER, THE VACANCY SHALL BE FILLED BY A PERSON
APPOINTED BY THE ATTORNEY GENERAL SUBJECT TO THE
PROVISIONS OF ARTICLE 64A OF THE CODE. EACH PERSON
APPOINTED SHALL HOLD HIS POSITION SUBJECT GENERALLY TO
THE PROVISIONS OF ARTICLE 64A.

REVISOR'S NOTE: This section presently appears as
Art. 32A, §30(a).

The only changes are technical changes in
style.

Present §30(b) is now contained in §11—207.

11-202. MARYLAND BLUE SKY ADVISORY COMMITTEE.

(A) APPOINTMENT.

(1) THE GOVERNOR SHALL APPOINT A MARYLAND
BLUE SKY ADVISORY COMMITTEE TO CONSIST OF SIX MEMBERS:

(I)   ALL OF WHOM SHALL BE RESIDENTS OF THIS
STATE;

(II)    AT LEAST TWO OF WHOM SHALL BE ACTIVELY
ENGAGED IN THE SECURITIES BUSINESS OR AS INVESTMENT
ADVISERS; AND

(III)    AT LEAST TWO OF WHOM SHALL BE MEMBERS
OF THE BAR.