                                 CODE OF VIRGINIA

TREASURY BOARD MEMBERSHIP; CHAIRMAN; QUORUM; REIMBURSEMENT FOR EXPENSES (§
2.2-2415)

A. The Treasury Board (the Board) is established as a policy board, within the
meaning of &#xA7; 2.2-2100, in the executive branch of state government. The
Board shall consist of seven members to be appointed as follows: four members to
be appointed by the Governor, subject to confirmation by the General Assembly,
who shall serve at the pleasure of the Governor; the State Treasurer, the
Comptroller, and the Tax Commissioner. The members appointed by the Governor
should have a background and experience in financial management and investments.
The State Treasurer, the Comptroller, and the Tax Commissioner shall serve terms
coincident with their terms of office. Vacancies shall be filled in the manner
of the original appointment.

B. The State Treasurer shall act as the chairman, and the Board shall elect a
secretary who need not be a member of the Board. The Board shall have regularly
scheduled meetings at least six times per year and shall keep a regular and
sufficient set of books, which include a record of all of their proceedings and
any action taken by them with respect to any funds which by any provision of law
are required to be administered by the Treasury Board. Four members of the Board
shall constitute a quorum.

C. Members of the Board appointed by the Governor shall receive reimbursement
for all reasonable and necessary expenses incurred in the discharge of their
duties as provided in &#xA7; 2.2-2813.

HISTORY: Code 1950, § 2-149.1; 1966, c. 677, § 2.1-178; 1979, c. 215; 1984, c.
720; 1987, c. 601; 2001, c. 844; 2016, cc. 36, 72.