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2005 SESSION
052739836Be it enacted by the General Assembly of Virginia:
1. That § 2.2-2235 of the Code of Virginia is amended and reenacted as follows:
§ 2.2-2235. Board of directors; members and officers; Executive Director.
The Authority shall be governed by board of directors
consisting of the Secretary of Commerce and Trade, the Secretary of Finance,
and thirteen 18 members, to be
appointed as follows: (i) one from each
congressional district in the Commonwealth and two citizens at large, appointed
by the Governor, subject to confirmation by the General Assembly; (ii) three
citizens at large appointed by the Speaker of the House; and (iii) two citizens
at large appointed by the Senate Committee on Rules. The
five citizens appointed
by the General Assembly shall
reside in regions of the Commonwealth that have unemployment reported at a rate
of at least one and one-half times that of the state unemployment
average as reported by the Virginia
Employment Commission for the preceding four years from the date
of employment. Four of the thirteen 13
directors initially appointed by the Governor shall be appointed for terms of
two and one-half years, four for terms of four and one-half years, and five for
terms of six and one-half years, from the effective date of their appointment;
and thereafter the terms of members of the Board shall be six years. No member appointed by
the Governor shall be eligible to serve more than two terms;
however, after the expiration of the term of a member appointed to serve three
years or less, two additional terms may be served if appointed thereto. Any
appointment to fill a vacancy shall be for the unexpired term. A person
appointed by the Governor to fill a vacancy may
be appointed to serve two additional terms. Members of the Board shall receive
their expenses and shall be compensated at the rate provided in § 2.2-2104 for
each day spent on the business of the Board.
The Board shall elect from its membership a chairman and a vice-chairman vice
chairman, and shall also elect a secretary and a treasurer, who
need not be members of the Board, and may also elect other subordinate
officers, who need not be members of the Board. The Board may also form
committees and advisory councils, which may include representatives who are not
members of the Board, to undertake more extensive study and discussion of the
issues before the Board.
A majority of the Board shall constitute a quorum for the transaction of the Authority's business, and no vacancy in the membership shall impair the right of a quorum to exercise the rights and perform all duties of the Authority.
The Board shall appoint the chief executive officer of the Authority, who shall not be a member of the Board, who shall be known as the Executive Director and who shall serve at the pleasure of the Board and carry out such of the powers and duties conferred upon him by the Board.
2. That the initial terms of the members of the board of directors appointed pursuant to this act shall be staggered as follows: (i) one member appointed by the Speaker of the House of Delegates and one member appointed by the Senate Committee on Rules to a term of four years, (ii) one member appointed by the Speaker of the House of Delegates and one member appointed by the Senate Committee on Rules to a term of five years, and (iii) one member appointed by Speaker of the House of Delegates for a term of six years. Thereafter the terms of members shall be six years.