Home Table of Contents

§ 12-106. Industrial development authorities--Board of directors

West's Annotated Code of MarylandEconomic DevelopmentEffective: October 1, 2008

West's Annotated Code of Maryland
Economic Development (Refs & Annos)
Division II. Independent and Regional Development Units and Resources [Titles 9-End] (Refs & Annos)
Title 12. Local Development Authorities and Resources (Refs & Annos)
Subtitle 1. Economic Development Revenue Bond Act (Refs & Annos)
Effective: October 1, 2008
MD Code, Economic Development, § 12-106
§ 12-106. Industrial development authorities--Board of directors
Currentness
Composition; appointment of members
(a)(1) Subject to paragraph (4) of this subsection, the board of directors of an authority consists of five members appointed by the legislative body of the incorporating county or municipal corporation.
(2) Appointment procedures shall be provided in the resolution establishing the authority.
(3)(i) In a county or municipal corporation that has a publicly elected chief executive, the chief executive shall submit nominations for the initial board members.
(ii) The chief executive may nominate more than one individual for an initial board member position.
(4) An officer or employee of the incorporating county or municipal corporation may not be appointed to the board but, if provided by resolution, may serve as an ex officio, nonvoting member of the board.
Term; vacancies
(b)(1)(i) The initial five members of the board of directors of an authority shall be appointed for staggered terms, ranging from 1 to 5 years, respectively, beginning on the date the State Department of Assessments and Taxation accepts the articles of incorporation of the authority for record.
(ii) Except as provided for initial board members, the term of an appointed member is 5 years.
(2) At the end of a term, an appointed member continues to serve until a successor is appointed.
(3) A member who is appointed after a term has begun serves only for the rest of the term and until a successor is appointed.
(4)(i) In a county or municipal corporation that has a publicly elected chief executive, the chief executive shall submit nominations for vacancies on the board.
(ii) The chief executive may nominate more than one individual for a vacancy.
Removal
(c)(1) A member may be removed at any time with or without cause.
(2) Procedures for removal shall be those provided in the resolution establishing the authority or a subsequent resolution.
Officers
(d)(1) From among its members, the board shall elect a chair and other officers.
(2) An ex officio member may hold any office other than chair.
Quorum; voting
(e)(1) Three voting members of the board are a quorum.
(2) The board may act on a resolution only by the affirmative vote of at least three voting members.
Compensation; reimbursement for expenses
(f) A member of the board:
(1) may not receive compensation as a member of the board; but
(2) shall be reimbursed for expenses incurred in performing the member's duties.
Exercise of powers
(g) The board shall exercise its powers by resolution.

Credits

Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008.
MD Code, Economic Development, § 12-106, MD ECON DEV § 12-106
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document