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2002 SESSION

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024229600
HOUSE BILL NO. 177 Offered January 9, 2002 Prefiled January 2, 2002 A BILL to amend and reenact §§ 2 and 3 of the first enactment of Chapter 306 of the 1986 Acts of Assembly, relating to The Miller School of Albemarle. ---------- Patrons-- Abbitt, Bell, Landes and Van Yahres ---------- Referred to Committee on Education ----------

Be it enacted by the General Assembly of Virginia:

1. That §§ 2 and 3 of the first enactment of Chapter 306 of the 1986 Acts of Assembly are amended and reenacted as follows:

§ 2. The Miller School of Albemarle shall be governed by a Board of Trustees consisting of not less than nine and not more than twenty-three members. Five members shall be appointed by the Governor of Virginia subject to confirmation by the Senate and the House of Delegates, two members shall be appointed by the Judge of the Circuit Court of Albemarle County, and two all other members shall initially be elected appointed by the other seven members of the Board. Thereafter the two board-elected members shall be elected by the entire Boardan appointment committee consisting of the chairman of the Board of Trustees, the president of The Miller School, and a representative selected by the Executive Board of the Alumni Association who shall not, at that time, be a member of the Board of Trustees.

Of the initial five members appointed by the Governor, three shall be for terms of four years and two shall be for terms of three years; the initial terms of the two members appointed by the judge shall be for two years; and the initial terms of the two board-elected members shall be for one year. The initial terms shall commence on July 1, 1986. Thereafter All appointments and elections shall be for four years except appointments and elections to fill vacancies which shall be for the unexpired term of the vacancy. Gubernatorial or judicial appointments shall be filled by the Governor or judge, respectively, for the unexpired term of the vacancy, as appropriate.

No member shall be eligible to serve more than three consecutive four-year terms.

§ 3. The Board shall hold legal title to all assets of the Corporation, including the Miller Fund. It shall select one or more strong well-known banks or trust companies doing business in the Commonwealth as a depository for such assets, and it shall select one or more financial institutions doing business in the Commonwealth as an advisor for investments.