These regulations are promulgated pursuant to State Government Article, §10-122, Annotated Code of Maryland, for the purpose of establishing procedures by which the public may petition the Canal Place Preservation and Development Authority for the adoption of regulations. In this chapter, the following terms have the meanings indicated. Terms Defined. "Authority" means the Canal Place Preservation and Development Authority. “Executive Director” means the Executive Director of the Canal Place Preservation and Development Authority or the Executive Director's designee. Any interested person may file a petition with the Executive Director requesting the promulgation, amendment, or repeal of a regulation. The petition shall: Be in writing; Contain a clear and concise statement of the regulation, amendment, or repeal which is sought; Contain a statement of reasons in support of the proposed regulation change; and Contain the name, address, and telephone number of the petitioner. The petition shall be filed with the Executive Director for the Executive Director's consideration and disposition. The time period for response to a petition begins when the petition is received by the Executive Director. Within 60 days after receipt of the petition, the Executive Director shall either deny the petition in writing, stating the reasons for the denial, or initiate the procedures for adoption of the regulation as submitted or with appropriate modifications as determined by the Executive Director to be in the best interest of the Authority. The Authority shall maintain a file of all petitions submitted and the responses. This file shall be available for public inspection to the extent permitted by law. Financial Institutions Article, §13-1008(4); State Government Article, §10-122; Annotated Code of Maryland Effective date: December 18, 1995 (22:25 Md. R. 1964)