(a) Appointment. The members of the Authority shall appoint a Secretary-Treasurer. The Secretary- Treasurer may, but need not be, a member of the Authority.
(b) Compensation. The Secretary-Treasurer shall receive compensation as may be fixed by the Authority from time to time, even if the Secretary-Treasurer is a member of the Authority.
(c) Financial interest prohibited. Neither the Secretary-Treasurer nor the Secretary-Treasurer's grandfather, grandmother, father, mother, son, daughter, stepson, stepdaughter, grandson, granddaughter, brother, sister, niece, or nephew, or the spouse of any of them may have a financial interest in any project with respect to which the Authority has jurisdiction or any power or authorization to act.
(d) Surety bond. Before the issuance of any bonds under the provisions of this title, the Secretary- Treasurer shall execute a surety bond in a penal sum to be fixed by the Authority. The surety bond shall be conditioned on the faithful performance of the duties of office and executed by a surety company authorized to transact business in this State as surety. The Authority shall pay the premium on the surety bond.
(1985 Code, Art. 2, § 11-209) (Bill No. 28-97)