(a) (1) There is created the Technology Equipment Revolving Loan Fund Committee, to be composed of nine (9) members, of which at least five (5) members must be individuals with disabilities, to be appointed by the Governor as follows:

(A) The Director of the Arkansas Rehabilitation Services;

(B) A representative of the banking industry;

(C) A representative of a disability-related consumer organization;

(D) A certified public accountant; and

(E) Five (5) additional members appointed from the state at large.

(2) The director shall be an ex officio member and shall serve as Chair of the Technology Equipment Revolving Loan Fund Committee, voting only in case of a tie vote.

(3) The committee shall elect from its membership a vice chair and a secretary-treasurer.

(b) All members shall be appointed for a term of three (3) years.

(c)

(1) Vacancies on the committee from death, resignations, or otherwise shall be filled by appointment of the Governor to fill the unexpired term that had been created.

(2) Any member of the committee who is absent from three (3) successive regular meetings for any reason other than illness of the member, verified by a written sworn statement by his or her attending physician and entered into the minutes of the committee, shall thereby forfeit and vacate his or her membership on the committee. This forfeiture and vacancy shall be certified to the Governor by the committee. The Governor shall fill the vacancy in the same manner as for other vacancies on the committee.

(d) Members of the committee shall serve without additional compensation, except that committee members may receive expense reimbursement in accordance with § 25-16-901 et seq.