(a) To qualify as the County’s Green Bank, a corporation’s Board of Directors must have no more than 15 voting members. The corporation’s bylaws should specify that the County Executive may appoint up to 5 board members, including the Directors of Environmental Protection and Finance, subject to confirmation by the County Council.
(b) Each voting member should be a resident of the County. The members of the Board of Directors should include:
(1) representatives of residential groups;
(2) representatives of low-income groups;
(3) representatives of environmental organizations;
(4) representatives of business organizations;
(5) persons with experience in investment or fund management;
(6) persons with banking and lending experience;
(7) persons with experience in the finance or deployment of renewable energy or energy efficiency;
(8) the Director of the Montgomery County Department of Environmental Protection or the Director’s designee; and
(9) the Director of the Montgomery County Department of Finance or the Director’s designee.
(c) A member must not be paid for service on the Board but may be reimbursed for necessary travel expenses.
(d) A member is not subject to Chapter 19A because of serving on the Board. The Bank’s bylaws must include provisions defining and regulating conflicts of interest by Board members and Bank staff.
(e) Notwithstanding any inconsistent provision of Section 19A-21, a member of the Board of Directors who engages in legislative or administrative advocacy as part of that member’s duties on the Board is not required to register as a lobbyist under Article V of Chapter 19A because of that advocacy.
(f) The Board must direct the program, management, and finances of the corporation.
(g) The Bank’s bylaws must provide that upon dissolution of the Green Bank, all assets must be transferred within 30 days from dissolution to either its successor Green Bank as authorized by Resolution or to the County for use permitted by the Green Bank legislation. (2015 L.M.C., ch. 35, § 1; 2016 L.M.C., ch. 28, §1; 2023 L.M.C., ch. 8, §1.)