<?xml version='1.0' encoding='utf-8'?>
<section article="gec" article_name="Economic Development" number="5-506" title_number="5" title_name="Economic Development and Financial Assistance Programs" subtitle_number="5" subtitle_name="Maryland Small Business Development Financing Authority">
  <level label="a">
    <text>The Authority consists of the following nine members:</text>
    <level label="1">
      <text>seven members appointed by the Governor;</text>
    </level>
    <level label="2">
      <text>the Secretary or the Secretary’s designee; and</text>
    </level>
    <level label="3">
      <level label="i">
        <text>the Comptroller or the Treasurer as designated by the Governor; or</text>
      </level>
      <level label="ii">
        <text>the designee of the Governor’s designee.</text>
      </level>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>The term of an appointed member is 5 years.</text>
    </level>
    <level label="2">
      <text>The terms of appointed members are staggered as required for appointments to the Authority on October 1, 2008.</text>
    </level>
    <level label="3">
      <text>At the end of a term, an appointed member continues to serve until a successor is appointed and qualifies.</text>
    </level>
    <level label="4">
      <text>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.</text>
    </level>
  </level>
  <level label="c">
    <text>The Governor may remove an appointed member for cause.</text>
  </level>
</section>
