Section 10-505 - Board of Directors(a)(1) There is a Board of Directors of the Corporation.(2) The Board manages the Corporation and exercises all of its corporate powers.(b) The Board consists of the following members: (1) as ex officio members: (i) the Secretary or a designee of the Secretary who is a senior-level departmental official;(ii) the Secretary of Agriculture or a designee of the Secretary who is a senior-level departmental official;(iii) the Secretary of Natural Resources or a designee of the Secretary who is a senior-level departmental official;(iv) the Executive Director of the Maryland Food Center Authority;(v) the Executive Director of the Rural Maryland Council; and(vi) the Director of the Maryland Cooperative Extension Service; and(2) eleven individuals appointed by the Governor with the advice and consent of the Senate as follows: (i) two agricultural producers representing at least two different farm commodity industries in the State;(ii) two representatives from commercial lending institutions serving rural regions in the State, one of whom shall represent a major farm credit organization operating in the State;(iii) one representative of the timber and forest products industry;(iv) one representative of the aquaculture industry;(v) one representative of the commercial seafood harvesting and processing industry;(vi) one individual with knowledge and experience in the area of operating commercial food or fiber processing facilities;(vii) one individual with knowledge and experience in the area of public finance;(viii) one individual with knowledge and experience in the area of rural economic development or agricultural marketing; and(ix) one individual with knowledge about the agricultural, forestry, or seafood industries or agritourism in the State or with substantial and relevant economic development experience.(c) A member of the Board shall be a resident of the State.(d) In appointing members of the Board under subsection (b)(2) of this section, the Governor shall consider all of the geographic regions of the State.(e)(1) The term of a member appointed under subsection (b)(2) of this section is 4 years.(2) The terms of the appointed members are staggered as required by the terms provided for the members on October 1, 2008.(3) At the end of a term, an appointed 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) The Governor may remove a member of the Board for incompetence, misconduct, or failure to perform the duties of the position.(g) The Board shall elect a chair from among its members.(h) The Board may act with an affirmative vote of nine members.(i) A member of the Board: (1) serves without compensation as a member of the Board; but(2) is entitled to reimbursement for expenses under the Standard State Travel Regulations as provided in the State budget.