Section 92. There is hereby established a board of real estate appraisers which shall consist of seven members to be appointed by the governor, two of whom shall be members of the general public, in accordance with the provisions of section nine B, one of whom shall be a member of the banking industry, one of whom shall be a licensed real estate broker, and three of whom shall be real estate appraisers. Each real estate appraiser member of the board appointed after January first, nineteen hundred and ninety-two shall be a state-licensed or state-certified real estate appraiser under the provisions of sections one hundred and seventy-three to one hundred and ninety-five, inclusive, of chapter one hundred and twelve. At least 1 of the appraiser members shall be a state-certified general real estate appraiser, and 1 shall be a state-certified residential real estate appraiser.

The appraiser members appointed before January first, nineteen hundred and ninety-two shall have seven years full-time experience in the real estate appraisal field; one such appraiser member shall have had primary work experience in commercial appraisals and one such appraiser member in residential appraisals.

The term of each appointed member shall be three years; provided, however, that, of the members first appointed, three shall serve for three years, two for two years and two shall serve for one year.

Upon expiration of their terms, members of the board shall continue to hold office until the appointment and qualification of their successors. No person shall serve as a member of the board for more than two consecutive terms. The appointing authority may remove a member for cause.

Each member of the board shall be paid for expenses actually incurred in the performance of official duties.

The board shall annually elect a chairperson from among its members.

The board shall hold at least six meetings each year and may hold special meetings as required at a time and place determined by the board.