53C-1-301 - Director -- Term -- Compensation -- Removal from office.
53C-1-301. Director -- Term -- Compensation -- Removal from office.
(1) (a) The board, with the consent of the governor, shall select the director on the basisof outstanding professional qualifications pertinent to the purposes and activities of the trust.
(b) If the governor withholds his consent from a candidate agreed upon by the board, heshall give his reasons in writing to the board.
(2) The director shall serve a term of four years, or until a successor is selected andqualified.
(3) When a vacancy occurs in the office of the director, the vacancy shall be filledpursuant to Subsection (1) for the remainder of the term.
(4) (a) The board:
(i) shall establish the compensation of the director; and
(ii) annually report the director's compensation to the Legislature.
(b) The compensation and performance of the director shall be examined each year aspart of the board's budget review process.
(5) (a) The board may remove the director from office for cause by a majority vote of theboard.
(b) (i) The governor may petition the board for removal of the director for cause.
(ii) The board shall hold a hearing on the governor's petition within 60 days after itsreceipt.
(iii) If after the hearing the board finds by a preponderance of the evidence cause forremoval, it shall remove the director from office by a majority vote.
Amended by Chapter 337, 1996 General Session