(a) The authority shall be governed by a five-member board of directors that shall consist of the following persons:
(1) Four individuals appointed by the Governor, subject to confirmation by the Senate. These four members shall have considerable experience in power generation, natural gas transportation or storage, energy conservation, financing, or ratepayer advocacy.
(2) The State Treasurer.
(b) (1) For the initial term, the appointed members shall serve staggered terms as follows:
(A) The member appointed first shall serve a term of four years.
(B) The member appointed second shall serve a term of three years.
(C) The member appointed third shall serve a term of two years.
(D) The member appointed fourth shall serve a term of one year.
(2) The second and any subsequent terms shall be for four years.
(c) A quorum is necessary for any action to be taken by the board. Three of the members shall constitute a quorum, and the affirmative vote of three board members shall be necessary for any action to be taken by the board.
(d) (1) The chairperson of the board shall be appointed by the Governor. This position shall be a full-time, paid position.
(2) Except as provided in this subdivision, the members of the board shall serve without compensation, but shall be reimbursed for actual and necessary expenses incurred in the performance of their duties to the extent that reimbursement for these expenses is not otherwise provided or payable by another public agency, and shall receive one hundred dollars ($100) for each full day of attending meetings of the authority.
(Added by Stats. 2001, 1st Ex. Sess., Ch. 10, Sec. 1. Effective August 13, 2001.)