§201H-3  Board; establishment, functions,
duties.  (a)  There is created a board of directors of the Hawaii housing
finance and development corporation consisting of nine members, of whom six
shall be public members appointed by the governor as provided in section
26-34.  At least four of the public members shall have knowledge and expertise
in public or private financing and development of affordable housing.  Public
members shall be appointed from each of the counties of Honolulu, Hawaii, Maui,
and Kauai.  At least one public member shall represent community advocates for
low-income housing, affiliated with private nonprofit organizations that serve
the residents of low-income housing.  The public members of the board shall
serve four-year staggered terms; provided that the initial appointments shall
be as follows:



(1)  Two members to be appointed for four years;



(2)  Two members to be appointed for three years; and



(3)  Two members to be appointed for two years.



The director of
business, economic development, and tourism and the director of finance, or
their designated representatives, and a representative of the governor's
office, shall be ex officio voting members.  The corporation shall be headed by
the board.



(b)  The board of directors shall select a
chairperson and vice chairperson from among its members; provided that the
chairperson shall be a public member.  The director of business, economic
development, and tourism, director of finance, and the governor's
representative shall be ineligible to serve as chairperson of the board.



(c)  Five members shall constitute a quorum,
whose affirmative vote shall be necessary for all actions by the corporation. 
The members shall receive no compensation for services, but shall be entitled
to necessary expenses, including travel expenses, incurred in the performance
of their duties. [L 2005, c 196, pt of §20; am L 2006, c 180, §8]