CHAPTER 36
An Act to amend and reenact § 2.2-2415 of the Code of
Virginia, relating to the Treasury Board; meetings.
[H 529]
Approved February 26, 2016
Be it enacted by the General Assembly of Virginia:
1. That §2.2-2415 of the Code of Virginia is amended and
reenacted as follows:
§2.2-2415. Treasury Board membership; chairman; quorum;
reimbursement for expenses.
A. The Treasury Board (the "Board") is
established as a policy board, within the meaning of §2.2-2100, in the
executive branch of state government. The Board shall consist of seven members
to be appointed as follows: four members to be appointed by the Governor,
subject to confirmation by the General Assembly, who shall serve at the
pleasure of the Governor; the State Treasurer, the Comptroller, and the Tax
Commissioner. The members appointed by the Governor should have a background
and experience in financial management and investments. The State Treasurer,
the Comptroller, and the Tax Commissioner shall serve terms coincident with
their terms of office. Vacancies shall be filled in the manner of the original
appointment.
B. The State Treasurer shall act as the chairman, and the
Board shall elect a secretary who need not be a member of the Board. The Board
shall have regularly scheduled meetings at least monthly, six times
per year and shall keep a regular and sufficient set of books, which
include a record of all of their proceedings and any action taken by them with
respect to any funds which by any provision of law are required to be
administered by the Treasury Board. Four members of the Board shall constitute
a quorum.
C. Members of the Board appointed by the Governor shall
receive compensation, including reimbursement for all reasonable
and necessary expenses incurred in the discharge of their duties as provided in
§2.2-2813.
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