(a) There is hereby established the Small Businessman of the Year Award to be awarded to a client of the Small Business Development Agency who has demonstrated good business practices over a period of three years and who has been proficient and dynamic in the development of his small business concern.
(b) The recipient of the Award shall be chosen annually by majority vote of the Loan Policy Board from a list of three candidates submitted to said Board by the Director; Provided, however, That the Board may choose not to confer said Award in a particular year for reasons which it deems good and appropriate.
(c) The Small Business Development Agency is authorized to award an appropriate plaque to the Small Businessman of the Year at an appropriate ceremony held for that purpose.