2810

LAWS OF MARYLAND

Ch. 753

(VI) TWO SHALL BE PUBLIC MEMBERS.

(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] THE GOVERNOR SHALL APPOINT
THE MEMBERS UNDER PARAGRAPHS (1)(I) THROUGH (III) OF THIS
SUBSECTION FROM A LIST OF QUALIFIED INDIVIDUALS SUBMITTED TO
THE GOVERNOR BY THE ORGANIZATION TO BE REPRESENTED. THE
NUMBER OF NAMES ON THE LIST SHALL BE THREE TIMES THE NUMBER
OF VACANCIES.

(3)  A MEMBER APPOINTED UNDER PARAGRAPHS (1)(IV)
THROUGH (V) OF THIS SUBSECTION MAY NOT BE EMPLOYED BY ANY
BANKING INSTITUTION.

(c) (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] 1981.

(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.

(d)  A member of the Banking Board:

(1)  May not receive compensation; but

(2)  Is entitled to reimbursement for expenses
under the standard state travel regulations, as provided in
the State budget.

2-203.

(a)  The function of the Banking Board is advisory.

(b)  The Banking Board shall GIVE THE BANK COMMISSIONER
SOUND AND IMPARTIAL ADVICE ON:

(1) THE APPROVAL OR DISAPPROVAL OF APPLICATIONS
BY A BANKING INSTITUTION AND FOREIGN BANKING CORPORATION;

[(1)] (2) [Give the Bank Commissioner sound and
impartial advice on how] HOW to protect the interests of THE
GENERAL PUBLIC AND OF depositors and stockholders in banking
institutions; and

[(2)] (3) [Confer with the Bank Commissioner on
any] ANY OTHER matter concerning banking institutions or the
business of banking in this State.