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558
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LAWS OF MARYLAND
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Ch. 73
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APPROPRIATENESS OF THOSE ACTIONS TO SERVE THE PUBLIC PURPOSE
SHALL BE CONCLUSIVE.
13-104. RESERVED.
13-105. RESERVED.
13-106. RESERVED.
PART II. ESTABLISHMENT AND ORGANIZATION OF AUTHORITY
13-107.
THERE IS A MARYLAND INDUSTRIAL DEVELOPMENT FINANCING
AUTHORITY IN THE DEPARTMENT, ESTABLISHED AS A BODY CORPORATE AND
POLITIC AND A PUBLIC INSTRUMENTALITY OF THE STATE.
13-108.
(A) COMPOSITION. - THE AUTHORITY CONSISTS OF THE FOLLOWING
9 MEMBERS:
(1) 7 MEMBERS APPOINTED BY THE SECRETARY WITH THE
APPROVAL OF THE GOVERNOR; AND
(2) AS EX OFFICIO MEMBERS:
(I) THE STATE TREASURER OR THE STATE
COMPTROLLER, AS DESIGNATED BY THE GOVERNOR; AND
(II) THE SECRETARY OR THE SECRETARY'S DESIGNEE.
(B) TENURE; VACANCIES. - (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.
(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) REMOVAL. - THE GOVERNOR MAY REMOVE AN APPOINTED MEMBER
AT THE GOVERNOR'S PLEASURE.
13-109.
(A) IN GENERAL. - FROM AMONG ITS MEMBERS, THE AUTHORITY
SHALL ELECT A CHAIRMAN, VICE CHAIRMAN, AND TREASURER.
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