776

LAWS OF MARYLAND

Ch. 257

(b) The Board of Building, Savings and Loan
Association Commissioners shall consist of nine [(9)]
members who shall be appointed by the Governor, with the
advice of the Secretary of Licensing and Regulation and
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 for at least [five years] [[12
MONTHS]] FIVE YEARS next preceding his appointment.
Five [ (5) ] of the members shall have been engaged as
officers or directors of, or attorneys for, a building
association, the principal place of business of which is
located in this State, for at least five years next
preceding their respective appointments[; said]. THESE
persons are hereinafter referred to as industry members.
Three [(3)] of [such] THE industry members shall have
been actively engaged as officers or directors of, or
attorneys for, a building association chartered 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]] THE
MARYLAND SAVINGS-SHARE INSURANCE CORPORATION. Two
[(2)] of [such] THE industry members shall have been
actively engaged as an officer or director of, or
attorney for, a State—chartered building association,
free share accounts of which are insured by an
instrumentality of the United States government. The
remaining four [ (4) ] members shall be selected from the
public at large. [Such] THE public members [shall] MAY
not have served during the [twelve] 12 months next
preceding their appointment as officers or directors of,
or attorneys for, any association, and [shall] MAY not so
serve while members of the Board. The term of office of
the members of [said] THE Board shall be four [ (4) ]
years, commencing on the first day of June next following
their respective appointments, except as hereinafter
provided, and [such] THE members shall hold office until
their respective successors have been appointed and
qualified. Any vacancy on the Board shall be filled by
the Governor, with the advice of the Secretary of
Licensing and Regulation, for the unexpired term created
thereby. [All members of the Board shall serve without
compensation, but shall be reimbursed, in accordance with
the standard travel regulations, for necessary and proper
expenses incurred while actually engaged in the
performance of their duties as members.] EACH MEMBER OF
THE BOARD SHALL RECEIVE $50 FOR EACH DAY OR PART THEREOF
ACTUALLY ENGAGED IN THE PERFORMANCE OF HIS DUTIES AS A
BOARD MEMBER, NOT TO EXCEED THE SUM OF $1,000 IN ANY ONE
YEAR. EACH MEMBER SHALL BE REIMBURSED FOR NECESSARY AND
PROPER EXPENSES INCURRED WHILE ACTUALLY ENGAGED IN THE
PERFORMANCE OF HIS DUTIES AS A MEMBER, AS PROVIDED IN THE
STATE BUDGET. [Those persons serving as Board members as
of June 30, 1970 shall continue to serve until the
expiration of the terms to which they were appointed.
Of the two additional Board members whose offices were
created in 1970, one shall be appointed for a term
commencing on July 1, 1970, and which will expire May 31,