(a) There is created in the division of regulatory boards the Tennessee auctioneer commission for issuing licenses to auctioneers and affiliate auctioneers engaged in the auction business.

(b)

(1) The commission shall be composed of five (5) members. The term of each member shall be three (3) years. The additional member appointed pursuant to Acts 1989, ch. 331 shall be appointed to serve a regular three-year term and shall meet the requirements of subdivision (b)(2).

(2) Four (4) members of the commission shall be auctioneers. Each member shall have been actively and principally engaged as a licensed auctioneer for a period of no less than five (5) years next preceding the appointment, shall be of recognized standing in the member's branch of the auction business and shall be at least thirty (30) years of age and of good moral character.

(3) One (1) member of the commission shall not be engaged in the auction business. The member shall be at least thirty (30) years of age and of good moral character and shall be appointed from the state at large.

(4)

(A) The new auctioneer member authorized by Acts 1989, ch. 331, shall be appointed from the state at large.

(B) The governor, in making appointments of the auctioneer members to the commission, shall ensure that each grand division of the state is represented.

(c) All members of the commission shall be appointed by the governor. In making appointments to the commission, the governor shall strive to ensure that at least one (1) person serving on the commission is sixty (60) years of age or older and that at least one (1) person serving on the commission is a member of a racial minority.

(d) Each member shall hold over after the expiration of the member's term until a successor shall have been duly appointed and qualified.

(e) The governor may remove any member of the commission for misconduct, incompetency or willful neglect of duty.