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1997 SESSION
961273376Be it enacted by the General Assembly of Virginia:
1. That § 10.1-1018 of the Code of Virginia is amended and reenacted as follows:
§ 10.1-1018. Administration of Foundation; appointment and terms of board of trustees.
A. The Foundation shall be governed and administered by a Board of Trustees, consisting of the Secretary of Natural Resources, the State Treasurer or his designee, who shall serve as ex-officio members, and seven trustees from the Commonwealth at large. Three of the trustees-at-large shall be appointed by the Governor, subject to confirmation by the General Assembly; two shall be appointed by the Speaker of the House of Delegates; and two shall be appointed by the Senate Committee on Privileges and Elections. The trustees-at-large shall have experience or expertise, professional or personal, in one or more of the following areas: natural resource protection and conservancy, construction and real estate development, natural habitat protection, environmental resource inventory and identification, forestry management, fish and wildlife management, historic preservation, and outdoor recreation. The trustees-at-large shall initially be appointed for terms of office as follows: two for a term of two years, two for a term of three years, and three for a term of four years. Appointments thereafter shall be made for four-year terms. No trustee-at-large shall be eligible to serve more than two consecutive four-year terms. All trustees-at-large shall post bond in the penalty of $5,000 with the State Comptroller prior to entering upon the functions of office. The terms of the Secretary of Natural Resources and the State Treasurer or his designee shall be coincident with that of the Governor. Appointments to fill vacancies shall be made for the unexpired term.
B. The Secretary of Natural Resources shall A
trustee-at-large shall serve as the
chairman of the Board of Trustees. The chairman shall serve until his
successor is appointed. The trustees-at-large shall elect a
chairman and vice-chairman annually from the members of the Board.
A majority of the members of the Board serving at any one time shall constitute
a quorum for the transaction of business. The board shall meet at the call of
the chairman.
C. Trustees of the Foundation shall receive no compensation for their services but shall receive reimbursement for actual expenses incurred in the performance of their duties on behalf of the Foundation.
D. The chairman of the Board, the State Treasurer, and any other person designated by the board to handle the funds of the Foundation shall give bond, with corporate surety, in such penalty as is fixed by the Governor, conditioned upon the faithful discharge of his duties. The premium on the bonds shall be paid from funds available to the Foundation for such purpose.