CHAPTER 4. CORPORATION BOARD
IC 5-28-4
Chapter 4. Corporation Board
IC 5-28-4-1
Corporation governed by board
Sec. 1. The corporation shall be governed by a board.
As added by P.L.4-2005, SEC.34.
IC 5-28-4-2
Membership
Sec. 2. (a) The board is composed of the following twelve (12)
members, none of whom may be members of the general assembly:
(1) The governor.
(2) Eleven (11) individuals appointed by the governor.
The individuals appointed under subdivision (2) must be employed
in or retired from the private or nonprofit sector or academia.
(b) When making appointments under subsection (a)(2), the
governor shall appoint the following:
(1) At least five (5) members belonging to the same political
party as the governor.
(2) At least three (3) members who belong to a major political
party (as defined in IC 3-5-2-30) other than the party of which
the governor is a member.
As added by P.L.4-2005, SEC.34.
IC 5-28-4-3
Term of office
Sec. 3. (a) The term of office of an appointed member of the
board is four (4) years.
(b) Each member holds office for the term of appointment and
continues to serve after expiration of the appointment until a
successor is appointed and qualified. A member is eligible for
reappointment.
(c) Members of the board appointed under section 2(a)(2) of this
chapter serve at the pleasure of the governor.
As added by P.L.4-2005, SEC.34.
IC 5-28-4-4
Chairperson
Sec. 4. The governor shall serve as chairperson of the board.
As added by P.L.4-2005, SEC.34.
IC 5-28-4-5
Per diem and expenses
Sec. 5. The members of the board are entitled to a salary per diem
for attending meetings equal to the per diem provided by law for
members of the general assembly. The members of the board are also
entitled to receive reimbursement for traveling expenses as provided
under IC 4-13-1-4 and other expenses actually incurred in connection
with the members' duties as approved by the budget agency.
As added by P.L.4-2005, SEC.34.
IC 5-28-4-6
Quorum; proxy vote prohibited
Sec. 6. Seven (7) members constitute a quorum for the transaction
of business. The affirmative vote of at least seven (7) members is
necessary for action to be taken by the board. Members may not vote
by proxy.
As added by P.L.4-2005, SEC.34.
IC 5-28-4-7
Meetings
Sec. 7. Meetings of the board shall be held at the call of the
chairperson or whenever any six (6) voting members request a
meeting. The members shall meet at least once every three (3)
months to attend to the business of the board.
As added by P.L.4-2005, SEC.34.