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Ch. 360
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2005 LAWS OF MARYLAND
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(1) HAVE SUBSTANTIAL EXPERIENCE IN BUSINESS OR ECONOMIC
DEVELOPMENT; AND
(2) REFLECT THE GEOGRAPHIC, RACIAL, ETHNIC, AND GENDER MAKEUP
OF THE STATE.
(b) (C) (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] 2005.
(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) (D) The Governor may remove an appointed member at the Governor's
pleasure.
(D) (E) THE MEMBERS OF THE AUTHORITY ARE ALSO THE MEMBERS OF THE
MARYLAND ECONOMIC DEVELOPMENT ASSISTANCE AUTHORITY UNDER § 5-1403 OF
THIS TITLE.
(E) (F) THE MEMBERS OF THE AUTHORITY MAY ACT CONCURRENTLY IN
THEIR CAPACITIES AS MEMBERS OF THE AUTHORITY AND OF THE MARYLAND
ECONOMIC DEVELOPMENT ASSISTANCE AUTHORITY.
(F) (G) THE MEMBERS OF THE AUTHORITY MAY SHALL CARRY OUT THE
POWERS AND DUTIES OF THE AUTHORITY UNDER THIS SUBTITLE WHETHER ACTING:
(1) CONCURRENTLY AS MEMBERS OF THE AUTHORITY AND THE
MARYLAND ECONOMIC DEVELOPMENT ASSISTANCE AUTHORITY; OR
(2) AS MEMBERS OF EITHER AUTHORITY ALONE.
5-921.
The Authority may authorize the executive director of the Authority to approve,
on behalf of the Authority, any financial assistance to be provided from the Industrial
Development Fund under § 5-918 of this subtitle which does not exceed, with respect
to any one transaction, the total aggregate amount of [$50,000] $250,000. Any such
approval by the executive director shall:
(1) Be subject to the concurrence of the [Secretary] SECRETARY, THE
SECRETARY'S DESIGNEE, or the chairman of the Authority;
(2) Comply with the requirements of this subtitle; and
(3) Be binding upon the Authority.
5-925.
[(a)] The Authority may not charge any premium for insurance if the Authority
determines that, at the time of approval of insurance, the facility or business with
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