In this section, “Advisory Board” means the Advisory Board on Medical and Adult–Use Cannabis. There is an Advisory Board on Medical and Adult–Use Cannabis. The Advisory Board shall: consider all matters submitted to it by the Office of Social Equity, the Governor, the Maryland Cannabis Administration, or the General Assembly; and study and make recommendations on: the impact on the legal medical and adult–use cannabis industry in the State if the federal government: reschedules cannabis from Schedule I to Schedule III under the federal Controlled Substances Act; or removes cannabis from the list of controlled substances under the federal Controlled Substances Act; measures to protect and promote the legal medical and adult–use cannabis industry in the State if cannabis is: rescheduled from Schedule I to Schedule III; or removed from the federal Controlled Substances Act; measures to enable standard and micro cannabis licensees and small businesses to compete in interstate commerce related to the cultivation, manufacture, distribution, and testing of cannabis and cannabis products; methods to ensure that there is an adequate supply of affordable cannabis and cannabis products for qualifying patients, including cannabis and cannabis products containing varying levels of potency; and methods to assist social equity applicants, social equity licensees, and small, minority, and women–owned businesses to: access funds for operating or capital expenses associated with a business participating in the medical and adult–use cannabis industry; obtain financing from a lender, as defined in § 36–1401 of this article; and partner with operational cannabis licensees in ways that the social equity applicants or licensees or small, minority, or women–owned businesses retain ownership and control of the licenses and businesses. The Advisory Board consists of the following members, appointed by the Governor with the advice and consent of the Senate: three members that have substantial experience in one or more of the following: cannabis law, science, or policy; public health or health care; agriculture; finance; or addiction treatment; one academic researcher with at least 5 years of experience in social or health equity; one representative of an independent testing laboratory registered under § 36–408 of this article; two representatives who hold a standard grower license under § 36–401 of this article; two representatives who hold a standard processor license under § 36–401 of this article; two representatives who hold a standard dispensary license under § 36–401 of this article; two representatives who hold a micro grower license under § 36–401 of this article; two representatives who hold a micro processor license under § 36–401 of this article; two representatives who hold a micro dispensary license under § 36–401 of this article; one representative who holds an incubator space license under § 36–401 of this article; one representative who holds an on–site consumption license under § 36–401 of this article; one representative of an organization that advocates on behalf of patients who engage in the medical use of cannabis; one representative of an organization that advocates on behalf of consumers who engage in the adult use of cannabis; and one health care provider who is registered to certify patients to obtain medical cannabis under § 36–301 of this article. The Advisory Board shall elect a chair from among its members. The President of the Senate and the Speaker of the House may recommend to the Governor a list of individuals for appointment to the Advisory Board. The term of a member of the Advisory Board is 4 years. At the end of a term, a member continues to serve until a successor is appointed and qualifies. An appointed member may not serve more than two full terms. The positions for members appointed under subsection (d)(1)(vii) through (xi) of this section become effective when the first licenses are issued under those respective license types. An appointed member of the Advisory Board must be: at least 25 years old; a resident of the State who has resided in the State for at least the immediately preceding 5 years before the appointment; and a registered voter of the State. The Advisory Board shall establish at least two subcommittees to focus on medical and adult–use cannabis. To the extent practicable and consistent with federal and State law, the membership of the Advisory Board shall reflect the racial, ethnic, and gender diversity of the State. The Maryland Cannabis Administration shall provide staff for the Advisory Board.