Section 4-208 - Housing Finance Review Committee. - Maryland Statutes

§ 4-208. Housing Finance Review Committee.
 

(a)  Established.- There is a Housing Finance Review Committee. 

(b)  Composition.- The Housing Finance Review Committee consists of seven members appointed by the Governor on recommendation of the Secretary as follows: 

(1) three employees of the Department, one of whom may be the Secretary; 

(2) one employee of the Executive Branch of State government who is not employed by the Department; and 

(3) three members of the public. 

(c)  Term.-  

(1) The term of a public member is 4 years and begins on July 1. 

(2) At the end of a term, a public member continues to serve until a successor is appointed and qualifies. 

(3) A public 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. 

(d)  Duties.-  

(1) The Housing Finance Review Committee shall review and make recommendations to the Secretary about: 

(i) specific loan requests or categories of loan requests; and 

(ii) the investment and project financing policies of the Administration. 

(2) The Secretary may approve a specific loan request without a recommendation of the Housing Finance Review Committee if the request requires urgent action. 
 

[An. Code 1957, art. 83B, § 2-202(b); 2005, ch. 26, § 2.]