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2000 SESSION
Be it enacted by the General Assembly of Virginia:
1. That § 2.1-548.57 of the Code of Virginia is amended and reenacted as follows:
§ 2.1-548.57. Board of Directors.
A. All powers, rights and duties conferred by this chapter or other provisions
of law upon the Authority shall be exercised by a board of directors consisting
of the Secretary of Commerce and Trade, the Secretary of Finance, the Secretary
of Natural Resources, and eleven twelve members appointed by the Governor,
subject to confirmation by the General Assembly. The members of the Board appointed by the Governor shall
serve terms of six years each, except that the original terms of four members appointed by the Governor
shall end on June 30, 2000, the original term of four members appointed by the
Governor shall end on June 30, 2001, and the original terms of three members
appointed by the Governor shall end on June 30, 2002, all as designated by the
Governor. Any appointment to fill a vacancy on the Board shall be made for the
unexpired term of the member whose death, resignation or removal created the
vacancy. All members of the Board shall be residents of the Commonwealth.
Members may be appointed to successive terms on the Board of Directors. The
Governor shall make appointments in such a manner as to ensure the widest
possible geographical representation of all parts of the Commonwealth. Each
member of the Board shall be reimbursed for his or her reasonable expenses
incurred in attendance at meetings or when otherwise engaged in the business of
the Authority and shall be compensated at the rate provided in § 2.1-20.3 for
each day or portion thereof in which the member is engaged in the business of the
Authority.
B. The Governor shall designate one member of the Board as chairman. The Board
may elect one member as vice-chairman, who shall exercise the powers of
chairman in the absence of the chairman or as directed by the chairman. The
Secretary of Commerce and Trade and, the Secretary of Finance, and the
Secretary of Natural Resources shall not be eligible to serve as chairman or
vice-chairman.
C. Meetings of the Board shall be held at the call of the chairman or of any
six seven members. Seven Eight members of the Board shall constitute a
quorum for the transaction of the business of the Authority. An act of the majority of the members of the Board
present at any regular or special meeting at which a quorum is present shall be an act of the Board of Directors. No
vacancy on the Board shall impair the right of the majority of a quorum of the
members of the Board to exercise all the rights and perform all the duties of
the Authority.
D. Notwithstanding the provisions of any other law, no officer or employee of the Commonwealth shall be deemed to have forfeited or shall have forfeited his or her office or employment by reason of acceptance of membership on the Board or by providing service to the Authority.