§ 5–407
Statutes in effect as of October 1, 2026.
Md. Code Ann., Econ. Dev. § 5-407 (2026)
Title 5. Economic Development and Financial Assistance Programs
Subtitle 4. Maryland Industrial Development Financing Authority
§ 5–407LinkCopy Citation
(a)
(1)
The Authority consists of the following nine members:
(i)
seven members appointed by the Governor with the advice and consent of the Senate; and
(ii)
as ex officio members:
(1)
the Secretary; and
(2)
the Treasurer or the Comptroller, as the Governor designates.
(2)
An ex officio member may designate a representative to serve on the Authority.
(b)
The appointed members shall:
(1)
have substantial experience in business or economic development; and
(2)
reflect the geographic, racial, ethnic, and gender makeup of the State.
(c)
(1)
The term of an appointed member is 5 years.
(2)
The terms of the appointed members are staggered as required by the terms provided for members of the Authority on October 1, 2008.
(3)
At the end of a term, an appointed member continues to serve until a successor is appointed and qualifies.
(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.
(d)
The Governor may remove an appointed member with or without cause.