(a) Establishment. The Consolidated Retiree Health Trust Board of Trustees is established to manage the Trust. The Board has 19 members.
(1) Each member of the Board of Investment Trustees established under Section
33-59 is also a member of the Board.
(2) The County Executive must appoint, subject to County Council confirmation, 3 voting members nominated by the Montgomery County Board of Education, who must serve indefinitely while remaining the designee of the Montgomery County Board of Education. The members must include:
(A) a designee of the Superintendent;
(B) an active employee of the Montgomery County Public Schools who is a member of a bargaining unit; and
(C) a retiree of the Montgomery County Public Schools.
(3) The County Executive must appoint, subject to County Council confirmation, 3 voting members nominated by the Board of Trustees of Montgomery College, who must serve indefinitely while remaining the designee of Montgomery College. The members must include:
(A) a designee of the President;
(B) an active employee of Montgomery College who is a member of a bargaining unit; and
(C) a retiree of Montgomery College.
(1) A trustee may be automatically removed for missing meetings as described in Section
2-148(b).
(2) A vacancy on the Board must be filled for the unexpired term in the same manner as the previous trustee was appointed.
(d) Compensation. The trustees must serve without compensation from any source for service rendered to the Board, except that an active employee trustee may receive administrative leave to serve on the Board. The Board must reimburse a trustee for any expense approved by the Board. A trustee must not receive reimbursement for expenses from any other source.
(e) Written policies. The Board must establish written policies to administer and invest the funds created by this Article and to transact the business of the Trust Fund. Any delegation of duties by the Board under Section 33-162 must be specified in written policies and procedures. (f) Officers. The Board must select a chair, vice chair, and secretary from the Board’s members.
(1) The chair must preside at meetings of the Board and may take administrative action on behalf of the Board.
(2) The vice chair must perform the duties and exercise the powers of the chair when the chair is unavailable, or the Board determines is otherwise unable to perform the duties of the chair.
(3) The secretary must record the proceedings and actions of the Board and may certify a document or action of the Board. A person may rely in good faith on the secretary’s certification as proof of the document or action.
(g) Meetings and actions.
(1) The Board must meet at least once during each calendar quarter. The chair, or 10 members of the Board, may call a meeting of the Board, in the manner and at times and places provided under the policies of the Board. The Board is a public body under the State Open Meetings Act.
(2) A. Ten trustees constitute a quorum.
B. Each trustee has one vote.
C. Ten trustees must agree for the Board to act.
(3) The Board may act without a meeting. All of the trustees must concur in writing for the Board to approve any action the Board takes without a meeting.
(4) The Board may adopt procedures consistent with this Section.
(5) In its written policies and procedures, the Board may authorize a trustee, the Executive Director, or a similarly situated County employee, to execute instruments on behalf of the Board.
(1) The Board must keep investment accounts and records necessary to calculate the value of each retiree health benefit trust fund and evaluate the experience and performance of the Trust Fund.
(2) The Board may designate a person to maintain the records.
(3) Accounts and records are subject to State law on public records.
(i) Removal of trustee. With the Council’s approval, the County Executive may remove a trustee for violating this Article or other good cause.
(j) Legal adviser. The County Attorney is the legal adviser to the Board.
(k) Management. The Board must hold legal title to all assets of the Trust Fund, but may transfer some incidents of ownership to the Board’s agents as provided in this Article. The powers and duties of the Board under this Article are not effective until the Board members have accepted the Trust Fund in writing. Within 10 days after the Council confirms a Board member, the member must certify in writing to the Chief Administrative Officer that the member accepts the Trust Fund and will administer its affairs with care, skill, prudence, and diligence. (, § 1; , § 1; , § 1; , § 1; , §1; , §1.)
