§201H-3  Board; establishment, functions,duties.  (a)  There is created a board of directors of the Hawaii housingfinance and development corporation consisting of nine members, of whom sixshall be public members appointed by the governor as provided in section26-34.  At least four of the public members shall have knowledge and expertisein public or private financing and development of affordable housing.  Publicmembers shall be appointed from each of the counties of Honolulu, Hawaii, Maui,and Kauai.  At least one public member shall represent community advocates forlow-income housing, affiliated with private nonprofit organizations that servethe residents of low-income housing.  The public members of the board shallserve four-year staggered terms; provided that the initial appointments shallbe 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 ofbusiness, economic development, and tourism and the director of finance, ortheir designated representatives, and a representative of the governor'soffice, shall be ex officio voting members.  The corporation shall be headed bythe board.

(b)  The board of directors shall select achairperson and vice chairperson from among its members; provided that thechairperson shall be a public member.  The director of business, economicdevelopment, and tourism, director of finance, and the governor'srepresentative 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 entitledto necessary expenses, including travel expenses, incurred in the performanceof their duties. [L 2005, c 196, pt of §20; am L 2006, c 180, §8]