162

LAWS OF MARYLAND

Ch. 33

REVISOR'S NOTE: This section is new language derived
without substantive change from the first clause
of Art. 11, § 27.

It is set forth as a separate section for
emphasis.

2-202. MEMBERSHIP.

(A)      COMPOSITION.

THE BANKING BOARD CONSISTS OF THE FOLLOWING FOUR

MEMBERS:

(1)   THE STATE COMPTROLLER; AND

(2)   THREE MEMBERS APPOINTED BY THE GOVERNOR,
WITH THE ADVICE OF THE SECRETARY OF LICENSING AND
REGULATION.

(B)   NOMINATIONS.

(1) OF THE THREE APPOINTED MEMBERS, THE GOVERNOR
SHALL APPOINT ONE EACH FROM NOMINEES SUBMITTED BY THE
ORGANIZATION TO BE REPRESENTED BY THAT MEMBER, AS FOLLOWS:

(I)   ONE SHALL REPRESENT THE BALTIMORE
CLEARING HOUSE;

(II)   ONE SHALL REPRESENT THE ASSOCIATED
MUTUAL SAVINGS BANKS OF BALTIMORE; AND

(III)   ONE SHALL REPRESENT THE MARYLAND
STATE BANKERS' ASSOCIATION.

(2) WHEN A VACANCY ON THE BANKING BOARD IS TO BE
FILLED, THE ORGANIZATION TO BE REPRESENTED SHALL SUBMIT TO
THE GOVERNOR THE NAMES OF THREE INDIVIDUALS WHO ARE
QUALIFIED TO FILL THE VACANCY.

(C) TENURE; VACANCIES.

(1)   THE TERM OF AN APPOINTED MEMBER IS 6 YEARS
AND BEGINS ON JUNE 1.

(2)   THE TERMS OF MEMBERS ARE STAGGERED AS
REQUIRED BY THE TERMS PROVIDED FOR MEMBERS OF THE BOARD ON
JULY 1, 1980.

(3)   AT THE END OF A TERM, AN APPOINTED MEMBER
CONTINUES TO SERVE UNTIL A SUCCESSOR IS APPOINTED AND
QUALIFIES.

(4)   A MEMBER WHO IS APPOINTED AFTER A TERM HAS
BEGUN SERVES ONLY FOR THE REST OF THE TERM AND UNTIL A
SUCCESSOR IS APPOINTED AND QUALIFIES.