(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.

(5) AN APPOINTED MEMBER SERVES AT THE PLEASURE OF THE
GOVERNOR

(6) THE GOVERNOR SHALL DESIGNATE A CHAIRMAN FROM AMONG THE

MEMBERS.

(7) ATTENDANCE BY A MAJORITY OF THE VOTING MEMBERS SHALL
CONSTITUTE A QUORUM.

(F) (1) THE AUTHORITY SHALL MEET AS OFTEN AS ITS DUTIES REQUIRE,
BUT NO LESS THAN QUARTERLY.

(2) THE MEMBERS OF THE AUTHORITY ARE SUBJECT TO THE
PROVISIONS OF THE MARYLAND PUBLIC ETHICS LAW.

(3) MEMBERS EACH MEMBER OF THE AUTHORITY APPOINTED BY THE
SECRETARY ARE NOT ENTITLED TO ANY COMPENSATION OR OTHER EMOLUMENT,
EXCEPT REASONABLE EXPENSES INCURRED IN CONNECTION WITH ATTENDANCE AT
HEARINGS, MEETINGS, AND WORKING SESSIONS, FOR ANY SERVICES RENDERED AS
A MEMBER OF THE AUTHORITY GOVERNOR MAY NOT RECEIVE COMPENSATION AS A
MEMBER OF THE AUTHORITY BUT IS ENTITLED TO REIMBURSEMENT FOR EXPENSES
UNDER THE STANDARD STATE TRAVEL REGULATIONS, AS PROVIDED IN THE STATE
BUDGET.

(G) THE DEPARTMENT SHALL PROVIDE STAFF SUPPORT TO THE AUTHORITY.
5-1304.

(A) THERE IS A MARYLAND ECONOMIC DEVELOPMENT ASSISTANCE FUND IN
THE DEPARTMENT MANAGED AND SUPERVISED BY THE SECRETARY.

(B) (1) THE FUND IS A CONTINUING, NONLAPSING FUND WHICH IS NOT
SUBJECT TO § 7-302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.

(2) THE TREASURER SHALL SEPARATELY HOLD AND THE COMPTROLLER
SHALL ACCOUNT FOR THE FUND.

(3) ANY INVESTMENT EARNINGS OF THE FUND SHALL BE PAID INTO
THE FUND.

(C) THE FUND MAY CONSIST OF ANY OF THE FOLLOWING:

(1) MONEYS APPROPRIATED BY THE STATE TO THE FUND;

(2) MONEYS MADE AVAILABLE TO THE FUND THROUGH FEDERAL
PROGRAMS OR PRIVATE CONTRIBUTIONS;

(3) INCOME FROM INVESTMENTS THAT THE STATE TREASURER MAKES
FROM MONEYS IN THE FUND;