Section 10-104 – Membership
(a) (1) The Board consists of 14 trustees. (2) The nonvoting trustees are: (i) the Secretary; (ii) a member of the House of Delegates, appointed by the Speaker of the House; and (iii) a member of the Senate, appointed by the President of the Senate. (3) With the advice and consent of the Senate, the Governor shall appoint 11 voting trustees, consisting […]
Section 10-105 – Chair
The Governor shall appoint one of the trustees to serve as chair of the Board.
Section 10-106 – Quorum
(a) A quorum is a majority of the voting trustees then serving on the Board. (b) The Board may act with a majority vote of a quorum of the Board.
Section 10-107 – Debts, Obligations, Liabilities, Corporate Earnings, and Assets
(a) The debts, obligations, and liabilities of the Trust are those of the Trust only and are not: (1) a pledge of the State’s credit; or (2) those of the State or its officers, employees, or governmental units. (b) (1) The net earnings of the Trust may not inure to the benefit of a trustee, officer, or private person. (2) A […]
Section 10-108 – Awards
The Board shall: (1) receive applications for awards from the Trust; (2) make the final decisions about awards; and (3) develop a process for making awards that encourages a broad geographic distribution of money.
Section 10-109 – Effect of Other Laws
(a) The Board shall comply with the Maryland Public Ethics Law. (b) The Board is exempt from: (1) taxation by the State or its political subdivisions; (2) the General Procurement Law provisions of Division II of the State Finance and Procurement Article; and (3) the Administrative Procedure Act, Title 10, Subtitles 1 through 4, of the State Government Article.