Ch. 6

1994 LAWS OF MARYLAND

(E) EXECUTION OF DOCUMENTS.

(1)      A DOCUMENT THAT MUST BE EXECUTED BY OR FOR THE BOARD OF
TRUSTEES SHALL BE SIGNED:

(I)       BY THE EXECUTIVE DIRECTOR OF THE STATE RETIREMENT
AGENCY; OR

(II)     IN THE ABSENCE OR DISABILITY OF THE EXECUTIVE
DIRECTOR, BY ANOTHER EMPLOYEE WHOM THE EXECUTIVE DIRECTOR, WITH THE
APPROVAL OF THE CHAIRMAN OF THE BOARD OF TRUSTEES, DESIGNATES IN
WRITING.

(2)      IF A COUNTERSIGNATURE IS REQUIRED, WITH THE APPROVAL OF
THE CHAIRMAN OF THE BOARD OF TRUSTEES, THE EXECUTIVE DIRECTOR SHALL
DESIGNATE THOSE EMPLOYEES OF THE STATE RETIREMENT AGENCY WHO MAY

SIGN.

REVISOR'S NOTE: This section is new language derived without. substantive
change from former Art. 73B, § 1-104(b) through (d) and (g), and the first
sentence of (e).

In subsection (c)(1) of this section, the standard language "employ a staff" is
substituted for the former phrase "appoint the employees".

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

21-119. SAME — POWERS AND DUTIES.           

THE STATE RETIREMENT AGENCY SHALL CARRY OUT THE ADMINISTRATIVE
DUTIES OF THE SEVERAL SYSTEMS.

REVISOR'S NOTE: This section is new language derived without substantive
change from the first sentence of former Art. 73B, § 1-104(a), as it related to
the responsibilities of the State Retirement Agency.

The former reference to "business" is deleted as included in the more
comprehensive reference to "administrative duties".

Defined term: "Several systems" § 20-101

21-120. SAME — ANNUAL REPORT.

(A)     REPORT.

ON OR BEFORE DECEMBER 15 OF EACH YEAR, THE EXECUTIVE DIRECTOR
SHALL SUBMIT A REPORT TO THE BOARD OF TRUSTEES ABOUT THE OPERATION
AND PERFORMANCE OF THE STATE RETIREMENT AGENCY DURING THE FISCAL
YEAR THAT ENDED ON THE PRECEDING JUNE 30.

(B)      DATA ON COMMISSIONS.

THE REPORT SHALL INCLUDE DATA ON ALL COMMISSIONS THE STATE
RETIREMENT AGENCY PAID ON INVESTMENTS DURING THAT FISCAL YEAR.

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