§ 24-307. Board

   (a) Established; management. --

   (1) There is a Board for the Chesapeake Employers' Insurance Company.

   (2) The Board shall manage the business and affairs of the Company as a private, nonprofit corporation in accordance with State law.

(b) Composition. -- The Board shall consist of nine members appointed by the Governor with the advice and consent of the Senate.

(c) Residency requirement. -- Each member shall be a resident of the State.

(d) Oath. -- Before taking office, each appointee to the Board shall take the oath required by Article I, § 9 of the Maryland Constitution.

(e) Term. --

   (1) The term of a member is 5 years.

   (2) The terms of members are staggered as required by the terms provided for members of the Board for the Fund on October 1, 1991.

   (3) At the end of a term, a 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.

   (5) A member may not serve for more than:

      (i) two full terms; or

      (ii) a total of 10 years.

(f) Removal. -- The Governor may remove a member for incompetence or misconduct.

(g) Rules, bylaws and procedures. -- The Board shall adopt rules, bylaws, and procedures.

HISTORY: 2012, ch. 570, § 1.