432

LAWS OF MARYLAND

Ch. 22

EACH YEAR:

(1)    THE GOVERNOR SHALL APPOINT TWO MEMBERS OF
THE BOARD AS ITS CHAIRMAN AND VICE CHAIRMAN. THESE OFFICERS
MAY BE REAPPOINTED.

(2)   THE BOARD MAY:

(I)   APPOINT ANY OTHER OFFICER OR EMPLOYEE IT
CONSIDERS ADVISABLE;

(II)   FIX HIS COMPENSATION; AND

(III)   DETERMINE HIS DUTIES.

(B)   MEETINGS.

(1)    THE BOARD OF DIRECTORS SHALL PROVIDE FOR
HOLDING REGULAR AND SPECIAL MEETINGS.

(2)   AT ANY MEETING SIX DIRECTORS CONSTITUTE A
QUORUM FOR TRANSACTING BUSINESS AND, UNLESS THE BYLAWS OF
THE CORPORATION REQUIRE A GREATER NUMBER, THE ACT OF A
MAJORITY OF THE DIRECTORS PRESENT AT ANY MEETING SHALL BE
THE ACT OF THE BOARD.

(C)  BYLAWS.

THE BOARD SHALL ADOPT BYLAWS FOR THE CORPORATION.

REVISOR'S NOTE: This section is new     language derived

without substantive change        from the fifth

sentence of Art. 43A, §4(a) and    Art. 43A, §4(b)
and (c).

18-1006. EXECUTIVE COMMITTEE.

(A)   ELECTION.

THE BOARD MAY ELECT AN EXECUTIVE COMMITTEE OF AT LEAST
FIVE MEMBERS WHO, IN INTERVALS BETWEEN MEETINGS OF THE
BOARD, MAY TRANSACT THE BUSINESS OF THE CORPORATION
AUTHORIZED BY THE BOARD.

(B)   QUORUM.

UNLESS OTHERWISE PROVIDED BY THE BYLAWS OF THE
CORPORATION, A MAJORITY OF THE WHOLE OF THE EXECUTIVE
COMMITTEE CONSTITUTES A QUORUM FOR TRANSACTING BUSINESS AND
THE ACT OF A MAJORITY OF THE MEMBERS OF THE EXECUTIVE
COMMITTEE PRESENT AT ANY MEETING SHALL BE THE ACT OF THE
COMMITTEE.

REVISOR'S NOTE: This section presently appears as Art.
43A, §4(d).

The only changes are in style.