(a) A board of directors shall govern the district corporation.
(b) (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) From among its members, the board shall elect a chair and other officers.
(d) (1) A majority of the voting members of the board is a quorum.
(2) The board may act on a resolution only by the affirmative vote of a majority of the voting members.
(e) 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) The board shall exercise its powers by resolution.
(g) 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.
Structure Maryland Statutes
Division II - Independent and Regional Development Units and Resources
Title 12 - Local Development Authorities and Resources
Subtitle 6 - Montgomery County -- Business Improvement Districts
Section 12-602 - Legislative Purposes
Section 12-603 - Applicability
Section 12-604 - Creation of Business Improvement District
Section 12-605 - Board of Directors
Section 12-608 - Application to Establish District Corporation
Section 12-609 - Public Hearing
Section 12-610 - Business Improvement District Tax
Section 12-611 - Expansion of District
Section 12-612 - Review and Determination of Continuance of District