WILLIAM DONALD SCHAEFER, Governor Ch. 311
(2) The Board of Directors shall consist of [13] 12
persons appointed by the Governor, all of whom shall be citizens
of the State. The Secretaries of Economic and [Community]
EMPLOYMENT Development[, Employment and Training,] and
Transportation shall be ex officio voting members. Two members
shall represent local government. Of the remaining members of
the Board, 3 members shall be knowledgeable in real estate or
commercial financing, 3 members shall be knowledgeable in
industrial development or industrial relations, and 2 members
shall represent the general public. The Governor shall consider
geographical balance and minority representation in making the
appointments. Each member of the Board who is not an ex officio
member shall be appointed with the advice and consent of the
Senate.
(3) The terms of a member of the Board, excluding an
ex officio member, is 4 years. Each member shall take an oath to
administer the duties of the office faithfully and impartially.
The terms of members are staggered as required by the terms
provided for members of the Board on July 1, 1984. At the end of
a term, a member continues to serve until a successor is
appointed and qualifies. A member who is appointed after a term
has begun serves only for the rest of the term and until a
successor is appointed and qualifies.
(c) The Board shall elect 1 of its members as chairman, 1
as vice chairman, and 1 as treasurer. Seven members of the Board
constitute a quorum, but action may not be taken by less than the
vote of 7 members. A vacancy in the membership of the Board of
Directors does not impair the right of a quorum of the Board of
Directors to exercise all rights and perform all the duties of
the Corporation.
[12-104.] 5-104.
(a) The Board of Directors shall appoint, subject to the
approval of the Governor, an executive director who shall serve
at the pleasure of the Board. The salary of the executive
director shall be determined by the Board.
(b) The executive director shall be the chief
administrative officer for the Corporation and as such shall
direct and supervise the administrative affairs and technical
activities of the Corporation in accordance with policies and
procedures established by the Board of Directors. The executive
director, or his designee, shall, among other things:
(1) Attend all meetings of the Board of Directors and
act as secretary to the Board and keep minutes of all its
proceedings;
(2) Approve all accounts for salaries, per diem
payments, and allowable expenses of the Corporation or of any of
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