(1) The higher education competitive research authority, referred to in this article as the "authority", is hereby created as a body corporate and a political subdivision of the state. The authority shall not be an agency of state government and, except as otherwise provided in this article, shall not be subject to administrative direction by any department, commission, board, bureau, or agency of the state.
The powers of the authority shall be vested in a board of directors, referred to in thisarticle as the "board". The board shall consist of one member appointed by the governor with the consent of the senate and the following four ex officio members: The president of the university of Colorado, the president of Colorado state university, the president of the Colorado school of mines, and the president of the university of northern Colorado. The term of the appointed member of the board shall be four years, and the appointed member shall be eligible for reappointment. The appointed member shall hold office until a successor has been appointed and the senate has confirmed the appointment. A vacancy in the seat of the appointed board member occurring other than by expiration of term shall be filled in the same manner as the original appointment, but for the unexpired term only. The appointed member may be removed from office by the governor for cause, after a public hearing, and may be suspended by the governor pending the completion of the hearing.
The members of the board shall elect a chair and a vice-chair. The members of theboard shall also elect a secretary and a treasurer, who need not be members of the board, and may elect the same person to serve as both secretary and treasurer. The powers of the board may be vested in the officers from time to time. Three members of the board shall constitute a quorum. A vacancy in the membership of the board shall not impair the right of a quorum of the members to exercise all powers and perform all duties of the board pursuant to section 23-19.7103.
Each member of the board not otherwise in full-time employment of the state shallreceive per diem compensation in the amount of fifty dollars for each day actually and necessarily spent in the discharge of official duties, and all members shall receive traveling and other necessary expenses actually incurred in the performance of official duties.
Source: L. 2007: Entire article added, p. 1600, § 1, effective May 31.