CHAPTER 4. CORPORATION BOARD

IC 5-28-4
    Chapter 4. Corporation Board

IC 5-28-4-1
Corporation governed by board
    Sec. 1. The corporation shall be governed by a board.
As added by P.L.4-2005, SEC.34.

IC 5-28-4-2
Membership
    Sec. 2. (a) The board is composed of the following twelve (12)members, none of whom may be members of the general assembly:
        (1) The governor.
        (2) Eleven (11) individuals appointed by the governor.
The individuals appointed under subdivision (2) must be employedin or retired from the private or nonprofit sector or academia.
    (b) When making appointments under subsection (a)(2), thegovernor shall appoint the following:
        (1) At least five (5) members belonging to the same politicalparty as the governor.
        (2) At least three (3) members who belong to a major politicalparty (as defined in IC 3-5-2-30) other than the party of whichthe governor is a member.
As added by P.L.4-2005, SEC.34.

IC 5-28-4-3
Term of office
    Sec. 3. (a) The term of office of an appointed member of theboard is four (4) years.
    (b) Each member holds office for the term of appointment andcontinues to serve after expiration of the appointment until asuccessor is appointed and qualified. A member is eligible forreappointment.
    (c) Members of the board appointed under section 2(a)(2) of thischapter serve at the pleasure of the governor.
As added by P.L.4-2005, SEC.34.

IC 5-28-4-4
Chairperson
    Sec. 4. The governor shall serve as chairperson of the board.
As added by P.L.4-2005, SEC.34.

IC 5-28-4-5
Per diem and expenses
    Sec. 5. The members of the board are entitled to a salary per diemfor attending meetings equal to the per diem provided by law formembers of the general assembly. The members of the board are alsoentitled to receive reimbursement for traveling expenses as providedunder IC 4-13-1-4 and other expenses actually incurred in connectionwith the members' duties as approved by the budget agency.As added by P.L.4-2005, SEC.34.

IC 5-28-4-6
Quorum; proxy vote prohibited
    Sec. 6. Seven (7) members constitute a quorum for the transactionof business. The affirmative vote of at least seven (7) members isnecessary for action to be taken by the board. Members may not voteby proxy.
As added by P.L.4-2005, SEC.34.

IC 5-28-4-7
Meetings
    Sec. 7. Meetings of the board shall be held at the call of thechairperson or whenever any six (6) voting members request ameeting. The members shall meet at least once every three (3)months to attend to the business of the board.
As added by P.L.4-2005, SEC.34.