3808                                  LAWS OF MARYLAND                                Ch. 734

PERSONS, TO RETAIN OR INCREASE THE EMPLOYMENT OF
ECONOMICALLY OR SOCIALLY DISADVANTAGED PERSONS, AND TO
PROVIDE A LARGER TAXABLE BASE FOR THE ECONOMY OF THIS STATE.

(b) The purposes of the Authority are:

(1)  To assist socially or economically
disadvantaged [businessmen] PERSONS to obtain working
capital that is adequate to begin, continue, and complete a
project under a federal, State, or local government
contract;

(2)  To encourage socially or economically
disadvantaged [businessmen] PERSONS to seek government
contracts; and

(3)  To encourage financial institutions to make
loans to these [businessmen] PERSONS.

13-206.

(a)  The Authority consists of the following [seven] 9
members:

(1)  [Five] 7 members appointed by the Governor;
and

(2)  As ex officio members:

(i) The State Treasurer or the State
Comptroller as designated by the Governor OR SUCH PERSON AS
MAY BE DESIGNATED BY THE GOVERNOR'S DESIGNEE; and

(ii) The Secretary or a designee.

(b) (1) The term of an appointed member is 5 years.

(2)  The terms of appointed members are staggered
as required [by the terms provided for members of the
Authority on July 1, 1980] FOR ORIGINAL APPOINTMENTS TO THE
AUTHORITY.

(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.

(c)  The Governor may remove an appointed member for
cause.

13-208.