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2017 Maryland Code
State Government
Title 9 - Miscellaneous Executive Agencies
Subtitle 8 - Financial Education and Capability Commission.
§ 9-803. Composition; term; co-chair; staff; compensation and reimbursement; meetings
Universal Citation: MD State Govt Code § 9-803 (2017)
- (a) Composition. -- The Commission consists of the following members:
- (1) two members of the Senate of Maryland, appointed by the President of the Senate;
- (2) two members of the House of Delegates, appointed by the Speaker of the House;
- (3) the State Superintendent of Schools, or the Superintendent's designee;
- (4) the Secretary of Housing and Community Development, or the Secretary's designee;
- (5) the Commissioner of Financial Regulation in the Department of Labor, Licensing, and Regulation, or the Commissioner's designee;
- (6) the Executive Director of the Family Investment Administration in the Department of Human Services, or the Executive Director's designee;
- (7) the Chief of the Consumer Protection Division of the Office of the Attorney General, or the Chief's designee;
- (8) the State Treasurer, or the State Treasurer's designee;
- (9) the Comptroller, or the Comptroller's designee;
- (10) the Secretary of Higher Education, or the Secretary's designee; and
- (11) the following members, appointed by the Governor:
- (i) one member of the Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans;
- (ii) one member of the Maryland 529 Board;
- (iii) one member of the Maryland State Education Association who teaches a course involving principles of financial education;
- (iv) one representative of the Maryland CASH Campaign;
- (v) one representative of a community-focused nonprofit organization that provides free financial education in the State;
- (vi) one representative of a philanthropic organization that provides funding for financial education in the State;
- (vii) one representative of the Maryland Council on Economic Education or the Maryland Coalition for Financial Literacy;
- (viii) one representative of a bank, whether or not State-chartered, that has a branch in the State;
- (ix) one representative of a credit union, whether or not State-chartered, that has a branch in the State;
- (x) one licensed mortgage broker holding the Maryland Association of Mortgage Brokers' "Lending Seal of Integrity";
- (xi) one member of the Maryland Association of CPAs; and
- (xii) one representative of a nonprofit organization in the State that provides financial assistance and free financial education to State residents for postsecondary education.
- (b) Term. --
- (1) The term of an appointed member of the Commission is 4 years.
- (2) The terms of the appointed members are staggered as required by the terms provided for appointed members of the Commission on October 1, 2012.
- (3) At the end of a term, an appointed 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 remainder of the term and until a successor is appointed and qualifies.
- (c) Co-chair. --
- (1) The President of the Senate shall designate one of the members appointed from the Senate as co-chair of the Commission.
- (2) The Speaker of the House of Delegates shall designate one of the members appointed from the House as co-chair of the Commission.
- (d) Staff. -- The Maryland CASH Campaign shall provide staff for the Commission.
- (e) Compensation and reimbursement. -- A member of the Commission:
- (1) may not receive compensation as a member of the Commission; but
- (2) is entitled to reimbursement for expenses under the Standard State Travel Regulations, as provided in the State budget.
- (f) Meetings. -- The Commission shall meet at least two times each year at the times and places determined by the Commission.
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