Ch. 6                                            1994 LAWS OF MARYLAND

In subsection (d)(2) of this section, the reference to "all necessary expenses
that they may incur through service on the Board" is deleted as unnecessary in
light of the reference to the "Standard State Travel Regulations, as provided
in the State budget".

Defined terms: "Board of Trustees" § 20-101
"Several systems" § 20-101

21-107. SAME — LEGAL ADVISER.

THE ATTORNEY GENERAL IS THE LEGAL ADVISER OF THE BOARD OF
TRUSTEES.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, § 1-103(n).

Defined term: "Board of Trustees" § 20-101

21-108. SAME — MISCELLANEOUS POWERS AND DUTIES.

(A)     IN GENERAL.

THE RESPONSIBILITY FOR THE MANAGEMENT, GENERAL ADMINISTRATION,
AND PROPER OPERATION OF THE SEVERAL SYSTEMS IS VESTED IN THE BOARD OF
TRUSTEES.

(B)      ESTABLISHMENT OF COMMITTEES.

IN ADDITION TO THE INVESTMENT COMMITTEE ESTABLISHED UNDER § 21-114
OF THIS SUBTITLE, THE BOARD OF TRUSTEES MAY ESTABLISH OTHER COMMITTEES.

(C)      INVESTMENT OF ASSETS.

SUBJECT TO § 21-123 OF THIS SUBTITLE, THE BOARD OF TRUSTEES SHALL HAVE
FULL POWER TO INVEST THE ASSETS OF THE SEVERAL SYSTEMS.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, § 1-103(h), the first sentence of § 1-103(a), the
second sentence of § 1-103(g)(2)(i) and, as it related to the authority of the
Board of Trustees to manage the several systems, the first sentence of §
1-102(a).

In subsection (b) of this section, the phrase "[i]n addition to the Investment
Committee" is added to reflect the establishment of the Investment
Committee under § 21-114 of this subtitle.

Also in subsection (b) of this section, the former reference to establishing
committees as "deem[ed] necessary" is deleted as unnecessary in light of the
broad discretionary authority to establish committees that is granted to the
Board of Trustees,

In subsection (c) of this section, the reference to "the assets of the several
systems" is substituted for "the several funds" for clarity.

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