3408                                          LAWS OF MARYLAND                                     Ch. 732

(H) (1) ADMINISTRATIVE EXPENSES SHALL BE KEPT AS LOW AS
POSSIBLE, AND MAY NOT EXCEED 8 PERCENT OF THE FUNDS OF THE
CORPORATION.

(2) STATE FUNDS MAY NOT BE USED FOR ADMINISTRATIVE
EXPENSES.

(H) (I) THE CORPORATION SHALL INDEMNIFY THE MEMBERS OF THE
BOARD AND ITS OFFICERS, AGENTS, AND EMPLOYEES TO THE MAXIMUM
EXTENT PERMITTED BY THE MARYLAND GENERAL CORPORATION LAW.

(I) (J) THE CORPORATION SHALL PUBLISH AN ANNUAL REPORT
WHICH THE CORPORATION SHALL FILE WITH THE GOVERNOR AND, SUBJECT
TO § 2-1312 OF THE STATE GOVERNMENT ARTICLE, WITH THE GENERAL
ASSEMBLY. THIS REPORT SHALL INCLUDE A DESCRIPTION OF SERVICES
PROVIDED.

13-607.

(A)  (1) THE CORPORATION SHALL APPOINT AN EXECUTIVE DIRECTOR
OF THE CORPORATION, WHO SHALL BE A NONVOTING EX OFFICIO MEMBER OF
THE BOARD.

(2)  THE EXECUTIVE DIRECTOR SHALL BE THE CHIEF
EXECUTIVE OFFICER OF THE CORPORATION AND, IN ACCORDANCE WITH THIS
SUBTITLE AND POLICIES ESTABLISHED BY THE BOARD, SHALL HAVE THE
RESPONSIBILITY AND AUTHORITY FOR:

(I)  THE DAY-TO-DAY ADMINISTRATION OF THE
AFFAIRS OF THE CORPORATION;

(II)  THE APPOINTMENT AND REMOVAL OF EMPLOYEES
NECESSARY TO CARRY OUT THE PURPOSES OF THIS SUBTITLE;

(III)  THE MAKING OF GRANTS AND CONTRACTS; AND

(IV)  THE EXERCISE OF OTHER POWERS INCIDENT TO
THE OFFICE OF THE EXECUTIVE DIRECTOR AND THE PERFORMANCE OF
DUTIES THE BOARD MAY PRESCRIBE.

(3)  THE EXECUTIVE DIRECTOR SHALL RECEIVE A SALARY
PROVIDED IN THE BUDGET OF THE CORPORATION.

(4)  THE EXECUTIVE DIRECTOR MAY BE REMOVED BY A
MAJORITY OF THE BOARD.

(B)  (1) NO POLITICAL TEST OR POLITICAL QUALIFICATION MAY BE
USED IN SELECTING, APPOINTING, PROMOTING, OR TAKING ANY OTHER
PERSONAL ACTION WITH RESPECT TO ANY OFFICER, AGENT, OR EMPLOYEE
OF THE CORPORATION.

(2)  EMPLOYEES OF THE CORPORATION SHALL RECEIVE
SALARIES AS PROVIDED IN THE BUDGET OF THE CORPORATION.

(3)  EMPLOYEES OF THE CORPORATION ARE NOT EMPLOYEES OF
THE STATE.