HARRY HUGHES, Governor

4009

(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.

13-608.

(A)  THE CORPORATION MAY NOT:

(1)  ISSUE SHARES OF STOCK, OR DECLARE OR PAY
DIVIDENDS;

(2)  CONTRIBUTE OR MAKE AVAILABLE CORPORATE FUNDS OR
SERVICES TO ANY POLITICAL PARTY OR ASSOCIATION, OR THE CAMPAIGN
OF ANY CANDIDATE FOR PUBLIC OR PARTY OFFICE; OR

(3)  COMPETE DIRECTLY OR INDIRECTLY WITH ANY GRANTEE
RECIPIENT.

(B)  (1) THE NET EARNINGS OF THE CORPORATION MAY NOT INURE
TO THE BENEFIT OF ANY MEMBER, TRUSTEE, OR OFFICER OF THE
CORPORATION, OR ANY PRIVATE PERSON.

(2)  A MEMBER, TRUSTEE, OR OFFICER OF THE CORPORATION,
OR ANY PRIVATE PERSON MAY NOT BE ENTITLED TO SHARE IN THE
DISTRIBUTION OF ANY OF THE CORPORATE ASSETS ON DISSOLUTION OF THE
CORPORATION.

(3)  REASONABLE COMPENSATION MAY BE PAID FOR SERVICES
ACTUALLY RENDERED TO OR FOR THE CORPORATION.