90-10-201. Montana capital investment board. (1) There is a Montana capital investment board. The board has the authority to carry out the activities provided for in this chapter.
     (2) The board consists of five voting members appointed by the governor. Members must be selected based upon demonstrated expertise and competence in the supervision of investment managers, in the fiduciary management of investment funds, or in the management and administration of tax credit allocation programs. Members may not have an interest in the designated investor group or in any person to whom a tax credit is allocated and issued by the board.
     (3) Board members shall serve staggered 4-year terms as provided in 2-15-124(2).
     (4) The board shall meet at least once a year.
     (5) The governor shall designate a presiding officer.
     (6) The governor may, after a hearing, remove a member for neglect of duty or other just cause.
     (7) Vacancies must be filled in the same manner as the appointment of the original members.
     (8) Members must be compensated for expenses and mileage, as provided in Title 2, chapter 18, part 5, but members may not receive a director's fee, per diem, or salary for service on the board.
     (9) The board is attached to the department of commerce for administrative purposes as provided in 2-15-121.

     History: En. Sec. 4, Ch. 537, L. 2005.