§ 32322. — 32322. (Added by Stats. 1980, Ch. 819, Sec. 1.)

California § 32322.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 15.5.: DIVISION 15.5. STATE ASSISTANCE FUND FOR ENTERPRISE, BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATION
• Ch. 2.: CHAPTER 2. Corporate Matters
• Art. 3.: ARTICLE 3. Board of Directors

Text

(a)
The terms of official members of the board shall coincide with their official terms of office, except in the case of the member selected and appointed by the members of the Energy Commission, who shall serve on the board until he or she is no longer a member of the Energy Commission or until he or she is replaced by a vote of the Energy Commission.
(b)
The public members of the board shall be appointed by the Rules Committee, Speaker, and Governor in such a manner that they shall hold office for overlapping terms. At the time of the appointment of first directors,
the first term of the directors appointed by the Rules Committee and Speaker shall be approximately two years. At the time of the appointment of first directors, the first term of the directors appointed by the Governor shall be approximately one year for one director and approximately three years for two directors. Thereafter, the terms of all public directors shall be three years. Directors shall be eligible for reappointment for an unlimited number of terms.
(c)
A public director’s tenure shall continue until his successor has been appointed and has taken his position on the board.
(d)
In the case of public members, vacancies shall be filled by appointment of the respective appointing authority for the unexpired remainder of the term.

Legislative History

Added by Stats. 1980, Ch. 819, Sec. 1.