ROBERT L. EHRLICH, JR., Governor                             Ch. 356

(ii) may not be considered an agent or employee of the State for any
purpose; and

(iii) is entitled to the same rights, powers, and privileged as the
other members of the board.

[(5)] (6) A consumer member of the board may not:

(i) be a licensee of or otherwise be subject to regulation by the
Commissioner;

(ii) be employed by or have a financial interest in:

1. a nonprofit health service plan or its affiliates or
subsidiaries; or

2. a person regulated under this article or the Health—
General Article; or

(iii) within 1 year before appointment, have been employed by, had a
financial interest in, or have received compensation from:

1. a nonprofit health service plan or its affiliates or
subsidiaries; or

2. a person regulated under this article or the Health—
General Article.

(7) NO MORE THAN FOUR MEMBERS OF THE BOARD MAY BE;

(I) LICENSED HEALTH CARE PROFESSIONALS;

(II) HOSPITAL ADMINISTRATORS; OR

(III) EMPLOYEES OF HEALTH CARE PROFESSIONALS OR HOSPITALS.

(8) (I) THE BOARD SHALL ESTABLISH THE FOLLOWING STANDING
COMMITTEES:

1. AN AUDIT COMMITTEE RESPONSIBLE FOR ENSURING
FINANCIAL ACCOUNTABILITY;

2. A FINANCE COMMITTEE RESPONSIBLE FOR REVIEWING
AND MAKING RECOMMENDATIONS ON THE ANNUAL BUDGET AND FOR DEVELOPING
AND RECOMMENDING LONG-RANGE FINANCIAL OBJECTIVES;

3. A COMPENSATION COMMITTEE RESPONSIBLE FOR:

A. EVALUATING AND APPROVING RECOMMENDING FOR
APPROVAL THE COMPENSATION PAID TO OFFICERS AND EMPLOYEES WITH ANNUAL
COMPENSATION GREATER THAN $150,000, INCLUDING ANY BONUS OR INCREASE IN
COMPENSATION, AND

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