§83. Louisiana State Transportation Infrastructure Bank; board of directors

A. The Louisiana State Transportation Infrastructure Bank shall be governed, administered, and operated by a board of directors composed of the following members:

(1) The secretary of the Department of Transportation and Development, or his designee.

(2) The state treasurer, or his designee.

(3) The chairman of the Senate Committee on Transportation, Highways and Public Works, or his designee.

(4) The chairman of the House Committee on Transportation, Highways and Public Works, or his designee.

(5) One member appointed by a majority of the other members enumerated in this Subsection from among three persons who shall be nominated by the Louisiana Bankers Association and who shall possess no less than five years' experience in commercial lending or investment banking practices.

(6) One member appointed by the board members of the State Board of Certified Public Accountants of Louisiana and who shall possess no less than five years' experience in professional accounting and auditing standards for financial accounting, management, and reporting.

(7) One member appointed by the board of directors of the Louisiana Good Roads and Transportation Association and who shall possess no less than five years' experience in transportation program planning.

(8) The members appointed pursuant to Paragraphs (5) through (7) of this Subsection shall serve three-year terms.

B.(1) Any vacancy of an appointed member of the board shall be filled in the manner provided for the original appointment for the remainder of the three-year term.

(2) In the event that the entity responsible for the appointment of a member fails to fill a vacancy within thirty days or appoint a board member within thirty days of the expiration of a three-year term, then the remaining members of the board shall appoint an interim successor to serve until the position is filled by the appointing entity.

C. The board shall adopt bylaws for its own internal organization and government. Such bylaws shall provide for the election of officers and conduct of meetings in accordance with the Open Meetings Law, R.S. 42:11 et seq.

D. The state treasurer or his designee shall serve as chairman of the board and the board may select such other officers as may be required by the board's bylaws.

E. The board shall be staffed by the Department of the Treasury.

Acts 2015, No. 431, §2.