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(1)
(a) The governor, president of the Senate, speaker of the House, chief justice, state treasurer, state attorney general, and state historic preservation officer shall serve terms coterminous with their office.
(b) The other members shall serve two-year terms.
(2) Vacancies in the appointed positions shall be filled by the original appointing authority for the unexpired term.
(3)
(a) Except as provided in Subsection (3)(b), the governor is chair of the board.
(b) When the governor is absent from meetings of the board, the vice chair is chair of the board.
(c) The governor shall appoint a member of the board to serve as vice chair with the approval of a majority of the members of the board.
(4) The board shall meet at least quarterly and at other times at the call of the governor or at the request of four members of the board.
(5)
(a) A member who is not a legislator may not receive compensation or benefits for the member's service, but may receive per diem and travel expenses as allowed in:
(i) Section 63A-3-106;
(ii) Section 63A-3-107; and
(iii) rules made by the Division of Finance according to Sections 63A-3-106 and 63A-3-107.
(b) Compensation and expenses of a member who is a legislator are governed by Section 36-2-2 and Legislative Joint Rules, Title 5, Legislative Compensation and Expenses.