620.641. Establishment of board, composition, terms--quorum, number of board members required--department of economic development to provide support services.
Establishment of board, composition, terms--quorum, number of boardmembers required--department of economic development to providesupport services.
620.641. There is hereby established the "Missouri Seed CapitalInvestment Board", to be composed of thirteen persons. One person shall bethe director, or the director's designee, and each qualified economicdevelopment organization, not to exceed four, shall respectively berepresented by one member appointed by each organization. Eight membersshall be appointed by the governor with the advice and consent of thesenate. Of these, one shall represent a major public research universitylocated within the state, one shall represent a major private researchuniversity located within the state and the remaining six members shallhave backgrounds in technology, banking, labor or small businessdevelopment. The eight members appointed by the governor shall serve termsof three years; except that, of those first appointed, three shall servefor terms of three years, three for terms of two years and two for terms ofone year. The members of the board shall annually elect one of its memberswho has been appointed by the governor as chairman of the board. At anymeeting of the board, seven members must be present to constitute a quorum.The department shall provide support services necessary to carry out theduties of the board.
(L. 1999 S.B. 518 § 3)Effective 7-8-99