3142

LAWS OF MARYLAND

Ch. 506

systems, and for making effective the provisions of this
article, are hereby vested in a board of trustees [which
shall be organized immediately after three of the trustees
provided for in this section have qualified and taken the
oath of office.] AS PROVIDED IN § 158 OF THIS ARTICLE.

[(2) The board shall consist of seven trustees, as
follows:

(a)  The State Secretary of Budget and Fiscal
Planning, ex officio,

(b)  The State Comptroller, ex officio,

(c)  The State Secretary of Personnel, ex

officio,

(d) The State Treasurer, ex officio,

(e) Three trustees who are members or
beneficiaries of the Employees' Retirement System or the
Pension System for Employees and not more than one of whom
may be a beneficiary of the systems. Two of the trustees
shall be elected by the members and the beneficiaries for
four-year terms. One of the trustees shall be appointed by
the Board of Public Works from the members of the system for
a four-year term. Elections of trustees shall be conducted
pursuant to rules and regulations adopted by the board of
trustees.

(3)  If a vacancy occurs in the office of a trustee,
the vacancy shall be filled for the unexpired term in the
same manner as the office was previously filled.

(4)  The trustees shall serve without compensation, but
they shall be reimbursed, in accordance with the standard
travel regulations, from the Expense Fund, provided under §
14 of this article, for all necessary expenses that they may
incur through service on the board.

(5)  Each trustee shall, within ten days after his
appointment or election, take an oath of office that so far
as it devolves upon him he will diligently and honestly
administer the affairs of the said board, and that he will
not knowingly violate or willingly permit to be violated any
of the provisions of the law applicable to the retirement
system. Such oath shall be subscribed to by the member
making it and certified by the officer before whom it is
taken, and immediately filed in the office of the Secretary
of State.

(6)  Each trustee shall be entitled to one vote in the
board. A majority of said board shall constitute a quorum
for the transaction of any business, the exercise of any