(a) The powers, rights, privileges, functions and duties of the United States Virgin Islands Maritime Academy, shall be vested in a Board of Governors designated as the United States Virgin Islands Maritime Academy Board of Governors. The Board of Governors, upon their appointment and qualification, and their successors, shall be and are constituted a body politic and corporate to have all attributes, prerogatives, responsibilities and functions appertaining to a secondary and post secondary institution, and to possess and exercise in furtherance of its objectives all such other powers, duties and responsibilities as provided by this chapter.
(b) The Board of Governors shall be composed of nine members: one shall be the Chairperson of the Career and Technical Education, one shall be the Chief Executive Officer of the West Indian Company, Ltd., one shall be the Executive Director of the Virgin Islands Port Authority, one shall be the Career and Technical Education Administrator and five other persons appointed by the Governor with the advice and consent of the Legislature. Three of the members shall be representatives of the maritime industry, with one member each from St. Croix, St. John and St. Thomas.
(c) The terms of office of members of the Board shall be four years; provided, however, of the members initially appointed by the Governor:
(1) as public lay members, one shall serve a term of two years, one shall serve a term of three years and one shall serve a term of four years;
(2) as representatives of the maritime industry, one shall serve a term of two years and one shall serve a term of four years.
The Governor shall designate the terms of office of the initial appointees at the time of appointment.(d) Vacancies shall be filled in the manner of the original appointment for the unexpired term. Notwithstanding Title 3, section 65a, Virgin Islands Code, upon expiration of a member's term of office, the member shall continue to serve until his successor is appointed and qualified. Members shall be eligible for reappointment.
(e) The members of the Board of Governors shall serve without pay, but each shall be allowed his actual expenses incurred in attending any meeting of the Board of Governors at the direction of the Board or in attending the sessions of or performing service for any duly appointed committee of the Board.