(a) There is hereby created the Board of Regents of the Oklahoma College of Liberal Arts, which shall consist of seven (7) members, to be appointed by the Governor, by and with the consent of the Senate. Appointments shall be to numbered positions on the Board, and the terms of members of the Board shall be as follows:

(1) Position No. 1. The term of office of one member shall expire on the 30th day of June, 1966, and each seven (7) years thereafter.

(2) Position No. 2. The term of office of one member shall expire on the 30th day of June, 1967, and each seven (7) years thereafter.

(3) Position No. 3. The term of office of one member shall expire on the 30th day of June, 1968, and each seven (7) years thereafter.

(4) Position No. 4. The term of office of one member shall expire on the 30th day of June, 1969, and each seven (7) years thereafter.

(5) Position No. 5. The term of office of one member shall expire on the 30th day of June, 1970, and each seven (7) years thereafter.

(6) Position No. 6. The term of office of one member shall expire on the 30th day of June, 1971, and each seven (7) years thereafter.

(7) Position No. 7. The term of office of one member shall expire on the 30th day of June, 1972, and each seven (7) years thereafter.

(b) Vacancies in appointive positions on the Board shall be filled by the Governor for the unexpired term, by and with the advice and consent of the Senate.

(c) No member of the Board shall be employed upon any work to be performed in connection with the Oklahoma College of Liberal Arts, nor shall any member of said Board enter into any contract or business transaction involving a financial consideration with the Oklahoma College of Liberal Arts.

Laws 1965, c. 396, § 602; Laws 1965, c. 510, § 2.