(a) There is established the University of Arkansas College of Medicine Admissions Board.

(b)

(1) The University of Arkansas College of Medicine Admissions Board shall be composed of fifteen (15) members to be appointed by the Board of Trustees of the University of Arkansas and shall be selected from a list submitted by the Dean of the University of Arkansas College of Medicine subject to the approval of the Chancellor for Health Sciences and the President of the University of Arkansas System.

(2) Six (6) of the members shall be members of the faculty of the University of Arkansas College of Medicine.

(3) Eight (8) of the members, at least four (4) of whom shall have faculty appointments in the University of Arkansas College of Medicine, shall be appointed from each of the four (4) congressional districts and shall be apportioned on the basis of two (2) members from each congressional district.

(4) One (1) member shall be appointed from the state at large.

(c) All members of the University of Arkansas College of Medicine Admissions Board shall serve one-year terms and may be reappointed for not more than three (3) additional consecutive terms.

(d) The University of Arkansas College of Medicine Admissions Board shall promulgate reasonable rules and regulations necessary to the fair and competitive selection of freshmen medical students with due consideration being given scholastic standings, recommendations of the premedical advisory committees of the various schools where the applicants pursue their premedical studies, their performance on the Medical College Admission Test, and any other procedures that can be developed that would deal fairly with the applicant group as a whole.

(e) The University of Arkansas College of Medicine Admissions Board shall serve without compensation except that each University of Arkansas College of Medicine Admissions Board member may receive expense reimbursement in accordance with § 25-16-901 et seq.