There is a newer version
of
this Section
2017 Maryland Code
Economic Development
Division II - Independent and Regional Development Units and Resources
Title 12 - Local Development Authorities and Resources
Subtitle 6 - Montgomery County -- Business Improvement Districts.
§ 12-605. Baord of directors.
Universal Citation: MD Econ Dev Code § 12-605 (2017)
- (a) In general. -- A board of directors shall govern the district corporation.
- (b) Membership. --
- (1) Subject to paragraph (2) of this subsection, the board of a district corporation consists of at least five members, but no more than nine members, appointed by the members of the district.
- (2) Appointment procedures shall be provided in the local law establishing the district.
- (c) Chair; officers. -- From among its members, the board shall elect a chair and other officers.
- (d) Quorum. --
- (1) A majority of the voting members of the board are a quorum.
- (2) The board may act on a resolution only by the affirmative vote of a majority of the voting members.
- (e) Compensation; reimbursement for expenses. -- A member of the board:
- (1) may not receive compensation as a member of the board; but
- (2) shall be reimbursed for expenses incurred in performing the member's duties.
- (f) Powers. -- The board shall exercise its powers by resolution.
- (g) Annual report. -- The board shall file an annual report with the governing body of the county or a municipal corporation in the county that includes:
- (1) a financial statement for the preceding year;
- (2) a proposed operating budget for the current fiscal year;
- (3) any proposed revisions to the business plan; and
- (4) a narrative statement or chart showing the results of operations in comparison to stated goals and objectives.
Disclaimer: These codes may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
