Md. Code, Economic Development § 10–106

(a) A Board of Directors shall manage the Corporation and exercise its powers.

(b) The Board consists of the following 12 members:

(1) as ex officio voting members:

(i) the Secretary; and

(ii) the Secretary of Transportation; and

(2) the following members, appointed by the Governor with the advice and consent of the Senate:

(i) two representatives of local government;

(ii) three members who are knowledgeable in real estate or commercial financing;

(iii) three members who are knowledgeable in industrial development or industrial relations; and

(iv) two members of the general public.

(c) Each member of the Board shall be a resident of the State.

(d) In appointing Board members, the Governor shall consider geographic diversity and minority representation.

(e) (1) The term of an appointed member is 4 years.

(2) The terms of the appointed members are staggered as required by the terms provided for members of the Board on October 1, 2008.

(3) At the end of a term, a 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 rest of the term and until a successor is appointed and qualifies.

(f) Before taking office, each member appointed to the Board shall take the oath required by Article 1, § 9 of the Maryland Constitution.