2.2-2415 - Treasury Board membership; chairman; quorum; compensation.
§ 2.2-2415. Treasury Board membership; chairman; quorum; compensation.
A. The Treasury Board (the "Board") is established as a policy board,within the meaning of § 2.2-2100, in the executive branch of stategovernment. The Board shall consist of seven members to be appointed asfollows: four members to be appointed by the Governor, subject toconfirmation by the General Assembly, who shall serve at the pleasure of theGovernor; the State Treasurer, the Comptroller, and the Tax Commissioner. Themembers appointed by the Governor should have a background and experience infinancial management and investments. The State Treasurer, the Comptroller,and the Tax Commissioner shall serve terms coincident with their terms ofoffice. Vacancies shall be filled in the manner of the original appointment.
B. The State Treasurer shall act as the chairman, and the Board shall elect asecretary who need not be a member of the Board. The Board shall haveregularly scheduled meetings at least monthly, and shall keep a regular andsufficient set of books, which include a record of all of their proceedingsand any action taken by them with respect to any funds which by any provisionof law are required to be administered by the Treasury Board. Four members ofthe Board shall constitute a quorum.
C. Members of the Board appointed by the Governor shall receive compensation,including all reasonable and necessary expenses incurred in the discharge oftheir duties as provided in § 2.2-2813.
(Code 1950, § 2-149.1; 1966, c. 677, § 2.1-178; 1979, c. 215; 1984, c. 720;1987, c. 601; 2001, c. 844.)