(1) There is hereby created the council of advisors on consumer credit consisting of nine members who shall be appointed by the governor. One of the advisors shall be designated by the governor as chairperson. In appointing members of the council, the governor shall seek to achieve a fair representation from the various segments of the consumer credit industry and public.
The term of office of each member of the council is three years. A member chosen tofill a vacancy arising otherwise than by expiration of a term shall be appointed for the unexpired term of the member whom he or she is to succeed. A member of the council is eligible for reappointment.
Members of the council shall serve without compensation but are entitled to reimbursement of actual and necessary expenses incurred in the performance of their duties.
Source: L. 2000: Entire article R&RE, p. 1254, § 1, effective July 1.
Editor's note: This section is similar to former § 5-6-301, as it existed prior to 2000.