*8.520. Board to exercise powers, membership, meetings, no compensation. — The powers of the authority are vested in and shall be exercised by a board consisting of three members: the governor, the lieutenant governor, and the attorney general. The speaker of the house of representatives and the president pro tempore of the senate shall serve as ex officio members of the board but shall not have the power to vote. The treasurer of the state may serve as an ex officio member of the authority but shall not have the power to vote. Two members of the board constitute a quorum. The members shall elect a chairperson, vice chairperson, and secretary, annually, and other officers as the members determine necessary. Meetings of the board shall be held at the call of the chairperson or when a majority of the members so request. The members of the board shall not receive compensation by reason of their membership on the board.
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(L. 2002 S.B. 1191)
Effective 6-07-02
*Section terminates upon satisfaction of all outstanding notes and obligations. See section 8.589.
---- end of effective 07 Jun 2002 ----
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