Upon recommendation of the Secretary, the Governor appoints seven individuals to serve as the Committee, consisting of: Three employees of the Department which shall include the Deputy Secretary; One employee of the executive branch of State government outside the Department; and Three members of the public: All of whom have interest and expertise in investment or commercial banking, lending, real estate development, mortgage insurance, community development, or affordable housing, and One of whom is the Chairman of the Maryland Housing Policy Commission or the designee of the Chairman appointed with the advice of the Secretary. The public members serve for a term of 4 years with the first terms beginning on July 1, 1983, and subsequent terms in each 4-year succeeding period. A member appointed to fill a vacancy in an unexpired term or to succeed a member who is holding over serves for the remainder of the term only. The members serve without compensation, but the public members are entitled to reimbursement for expenses under the standard State travel regulations.