(a) (1) The Board of Directors of the Corporation:
(i) Shall elect one of its members as chairman of the Board; and
(ii) May appoint any officers and employees that it considers advisable.
(2) The manner of election of the chairman and appointment of officers and their terms of office shall be as the bylaws provide.
(b) In accordance with the bylaws of the Corporation, the Board of Directors shall set the amount of the fidelity bonds of the officers and employees of the Corporation.
Structure Maryland Statutes
Title 7 - Credit Union Share Insurance
Subtitle 1 - Credit Union Insurance Corporation
Part II - Establishment; Powers; Membership
Section 7-102 - Corporation Established
Section 7-103 - Purposes of Corporation
Section 7-104 - General Powers and Duties
Section 7-105 - Insurance of Share and Deposit Accounts
Section 7-106 - Membership -- Applications
Section 7-107 - Membership -- Qualifications; Term; Termination; Duties
Section 7-108 - Membership -- Voting by Members
Section 7-109 - Board of Directors
Section 7-110 - Officers and Staff
Section 7-111 - Bylaws, Rules, and Regulations
Section 7-112 - Independent Audits of Members
Section 7-113 - Cooperation and Exchange of Information
Section 7-114 - Earnings to Be Accumulated
Section 7-115 - Application of State Insurance Laws