§ 42-2702.02 — Board of Directors.

District of Columbia § 42-2702.02

• Jurisdiction: District of Columbia
• Title 42: Real Property.
• Ch. 27: Housing Finance Agency.
• Subch. II: Establishment of the Agency.

Text

(a) The agency shall be governed by a Board of Directors, which shall be comprised of 5 members who are residents of the District of Columbia. Two shall have experience in mortgage lending or finance, 2 shall have experience in home building, real estate, architecture, or planning, and 1 shall represent community or consumer interests. The members shall be appointed by the Mayor, with advice and consent of the Council, in accordance with § 1-523.01 . Members shall be appointed for 2-year terms. Of the 5 members first appointed pursuant to this chapter, 2 shall serve for a term of 1 year and 3 shall serve for a term of 2 years.

(b) The appointing authority or the Board may remove a member of the Board for inefficiency, neglect of duty or misconduct in office, after giving the member a copy of the charges against him and an opportunity to be heard in person or by counsel in his defense upon not less than 10 days’ notice. Removal of a member by action of the Board shall require an affirmative vote of 3 members. If a member is removed by the Board, the Board shall promptly notify the Mayor and the Council of the action. Within 30 days after a vacancy occurs or a term expires, the Mayor shall nominate someone to fill the vacancy or begin the new term. The member shall hold office for the term of his appointment and shall serve until a successor has qualified. Any member shall be eligible for reappointment.

(c) The Board shall elect from among its number a chairperson, a vice chairperson, and other officers it may determine.

(d) The powers of the Agency shall be vested in the Board. A majority of the incumbent Board members shall constitute a quorum for the transaction of business, and an affirmative vote of 3 members shall be necessary for valid Agency action. Members of the Board may participate in a meeting of the Board or a committee thereof by means of conference telephone or similar communication equipment so long as all Board members participating in the meeting and members of the public can be heard by each other. No vacancy in the membership of the Board shall impair the right of a quorum to exercise all rights and perform all duties of the Agency. Members of the Board shall be reimbursed for actual and necessary expenses incurred while engaged in services for the Agency. A member of the Board not otherwise employed by the District may also receive per diem compensation at the rate equal to the daily equivalent of step 1 of Grade 15 of the General Schedule established under 5 U.S.C. § 5332, with a limit of $8,000 per annum.

(e) Repealed.

Legislative History

Mar. 3, 1979, D.C. Law 2-135, § 202, 25 DCR 5008; Aug. 5, 1981, D.C. Law 4-28, § 2(g), 28 DCR 2848; Aug. 1, 1985, D.C. Law 6-15, § 8(a), 32 DCR 3570; Oct. 5, 1985, D.C. Law 6-44, § 2(a), 32 DCR 4487; Apr. 20, 1999, D.C. Law 12-247, § 2(c), 46 DCR 1100; Oct. 19, 2002, D.C. Law 14-213, § 27, 49 DCR 8140