22.1-164 - Board of Commissioners; membership; terms; compensation and expenses; chairman and vice-chairman; quorum; employees, agents, etc. - Virginia Statutes

§ 22.1-164. Board of Commissioners; membership; terms; compensation andexpenses; chairman and vice-chairman; quorum; employees, agents, etc.

All powers, rights and duties conferred by this chapter or other provisionsof law upon the Authority shall be exercised by the Board of Commissioners ofthe Virginia Public School Authority. The Board of Commissioners shallconsist of the State Treasurer, the State Comptroller, the Superintendent ofPublic Instruction or his designee, and five additional members to beappointed by the Governor, subject to confirmation by the General Assembly,who shall serve at the pleasure of the Governor for terms of six years each.Appointments to fill vacancies other than by expiration of term shall be madefor the unexpired terms. The chairman and members of the Board ofCommissioners shall receive such compensation as provided for by law.

The Governor shall designate one member of the Board of Commissioners aschairman. The chairman shall be the chief executive officer of the Authorityand shall receive such compensation as the Governor shall fix. The StateTreasurer, the State Comptroller, the Superintendent of Public Instructionand his designee shall be ineligible to serve as chairman. The chairman shallsign and execute all vouchers for the disbursement of funds belonging to theAuthority upon authorization by the Board. Five members of the Board ofCommissioners shall constitute a quorum for the transaction of all businessof the Authority. The Board of Commissioners shall elect one of its membersas vice-chairman, who shall exercise the powers of the chairman when sodirected by the chairman.

The Board of Commissioners may employ or retain such employees, agents,financial advisers and attorneys as it may deem necessary and fix theircompensation.

(Code 1950, § 22-29.4; 1962, c. 194; 1972, c. 745; 1976, c. 22; 1980, cc.559, 728.)