§ 2.2-2282. Board of directors; membership; terms, compensation and expenses;chairman, vice-chairman, secretary and treasurer; quorum; staff.
A. The Board shall consist of the State Treasurer or his designee, theDirector of the Department of Business Assistance, and nine members who arenot employees of the Commonwealth or of any political subdivision thereof whoshall be appointed by the Governor and who shall have such small businessexperience as he deems necessary or desirable. The appointment of members ofthe Board by the Governor shall be subject to confirmation by the GeneralAssembly. All members of the Board shall be residents of the Commonwealth andshall have full voting privileges. Appointments shall be for terms of fouryears, except that appointments to fill vacancies shall be made for theunexpired terms. No member appointed by the Governor shall serve more thantwo complete terms in succession. The members of the Board shall receive nosalaries but shall be paid travel and other expenses incurred to attendmeetings or while otherwise engaged in the discharge of their duties, all asmay be deemed appropriate by the Board.
B. The Governor shall appoint one member as chairman. Five members of theBoard shall constitute a quorum for the transaction of all business of theAuthority. The Board shall elect one member from the group of nine membersappointed by the Governor as vice-chairman who shall exercise the powers ofthe chairman in the absence of the chairman. The Board shall elect asecretary and a treasurer, or a secretary-treasurer, who need not be membersof the Board and who shall continue to hold such office until theirrespective successors are elected. The Department of Business Assistance ofthe Commonwealth shall serve as staff to the Authority.
(1984, c. 749, § 9-202; 1987, c. 688; 1991, c. 190; 1996, cc. 589, 599; 2001,c. 844; 2004, c. 239.)
§ 2.2-2282. Board of directors; membership; terms, compensation and expenses;chairman, vice-chairman, secretary and treasurer; quorum; staff.
A. The Board shall consist of the State Treasurer or his designee, theDirector of the Department of Business Assistance, and nine members who arenot employees of the Commonwealth or of any political subdivision thereof whoshall be appointed by the Governor and who shall have such small businessexperience as he deems necessary or desirable. The appointment of members ofthe Board by the Governor shall be subject to confirmation by the GeneralAssembly. All members of the Board shall be residents of the Commonwealth andshall have full voting privileges. Appointments shall be for terms of fouryears, except that appointments to fill vacancies shall be made for theunexpired terms. No member appointed by the Governor shall serve more thantwo complete terms in succession. The members of the Board shall receive nosalaries but shall be paid travel and other expenses incurred to attendmeetings or while otherwise engaged in the discharge of their duties, all asmay be deemed appropriate by the Board.
B. The Governor shall appoint one member as chairman. Five members of theBoard shall constitute a quorum for the transaction of all business of theAuthority. The Board shall elect one member from the group of nine membersappointed by the Governor as vice-chairman who shall exercise the powers ofthe chairman in the absence of the chairman. The Board shall elect asecretary and a treasurer, or a secretary-treasurer, who need not be membersof the Board and who shall continue to hold such office until theirrespective successors are elected. The Department of Business Assistance ofthe Commonwealth shall serve as staff to the Authority.
(1984, c. 749, § 9-202; 1987, c. 688; 1991, c. 190; 1996, cc. 589, 599; 2001,c. 844; 2004, c. 239.)
§ 2.2-2282. Board of directors; membership; terms, compensation and expenses;chairman, vice-chairman, secretary and treasurer; quorum; staff.
A. The Board shall consist of the State Treasurer or his designee, theDirector of the Department of Business Assistance, and nine members who arenot employees of the Commonwealth or of any political subdivision thereof whoshall be appointed by the Governor and who shall have such small businessexperience as he deems necessary or desirable. The appointment of members ofthe Board by the Governor shall be subject to confirmation by the GeneralAssembly. All members of the Board shall be residents of the Commonwealth andshall have full voting privileges. Appointments shall be for terms of fouryears, except that appointments to fill vacancies shall be made for theunexpired terms. No member appointed by the Governor shall serve more thantwo complete terms in succession. The members of the Board shall receive nosalaries but shall be paid travel and other expenses incurred to attendmeetings or while otherwise engaged in the discharge of their duties, all asmay be deemed appropriate by the Board.
B. The Governor shall appoint one member as chairman. Five members of theBoard shall constitute a quorum for the transaction of all business of theAuthority. The Board shall elect one member from the group of nine membersappointed by the Governor as vice-chairman who shall exercise the powers ofthe chairman in the absence of the chairman. The Board shall elect asecretary and a treasurer, or a secretary-treasurer, who need not be membersof the Board and who shall continue to hold such office until theirrespective successors are elected. The Department of Business Assistance ofthe Commonwealth shall serve as staff to the Authority.
(1984, c. 749, § 9-202; 1987, c. 688; 1991, c. 190; 1996, cc. 589, 599; 2001,c. 844; 2004, c. 239.)
