(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.