(a) The Board of Trustees of the Alaska Permanent Fund Corporation consists of six members appointed by the governor. Two of the members must be heads of principal departments of state government, one of whom shall be the commissioner of revenue. Four members shall be appointed by the governor from the public and may not hold any other state or federal office, position or employment, either elective or appointive, except as a member of the armed forces of either the United States or of this state.
(b) The four public members of the board must have recognized competence and wide experience in finance, investments, or other business management-related fields.
(c) The board shall annually elect a chairman from among its members.
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