KRS 164.746: Board of directors -- Membership -- Terms -- Vacancies -- Officers and

employees -- Compensation -- Meetings -- Bylaws, policies, and administrative

regulations -- Power to adopt Model Procurement Code.

(1) The authority shall be governed, all of its powers shall be exercised, and its duties

and functions shall be performed by a board of directors.

(a) Voting members of the board shall consist of ten (10) members who shall be

appointed from the general public residing in the Commonwealth of Kentucky

by the Governor from nominees submitted by the Governor's Postsecondary

Education Nominating Committee under KRS 164.005.

(b) In addition, the president of the Council on Postsecondary Education, the

president of the Association of Independent Kentucky Colleges and

Universities, the State Treasurer, the commissioner of education, and the

secretary of the Finance and Administration Cabinet, or their designees who

shall be another official of the same cabinet or agency, shall serve as voting

ex officio members.

(c) The term of office of appointed members shall be four (4) years. Each

member shall serve for the term for which he or she is appointed and shall

serve until his or her successor is appointed.

(2) Appointments to fill vacancies on the board shall be made in the same manner as

regular appointments. The person appointed shall hold the position for the

unexpired portion of the term only.

(3) The board shall elect from its voting membership a chair, chair -elect, and secretary-

treasurer who shall each s erve for a term of one (1) year. At the conclusion of the

chair's term of office, the chair -elect shall become the chair for the succeeding year

and the board shall elect from its voting membership a new chair-elect.

(4) Board members, except officers or e mployees of the state, shall receive

compensation for their services, in the amount of one hundred dollars ($100) per

day, and may be reimbursed for actual and necessary expenses incurred in the

performance of their duties under KRS 164.740 to 164.785.

(5) The board shall provide for the holding of regular meetings and special meetings.

(a) A majority of the voting members shall constitute a quorum for the

transaction of any business, special meetings shall be called by the chair in

accordance with KRS 61.8 23, and either the chair or the chair -elect shall be

present for the transaction of any business.

(b) In lieu of personal attendance by members of the board at the same location,

the board may conduct meetings by teleconference or other available

technological means suitable for conducting its business. Meetings of the

board shall be open and accessible to the public in accordance with KRS

61.805 to 61.850, and any alternate method of conducting a meeting in lieu of

personal attendance shall ensure public access.

(6) The board shall adopt bylaws and policies governing it s internal affairs and the

conduct of its business, and shall adopt administrative regulations pursuant to KRS

Chapter 13A, not inconsistent with law, in connection with the administration of the

authority's programs and the performance of its functions and duties.

(7) The board may:

(a) Appoint such officers and employees as necessary and may fix their

compensation, and shall prescribe their duties notwithstanding personnel

limits established by KRS 18A.010 or the biennial budget and its related

documents; and

(b) Adopt the provisions of KRS 45A.345 to 45A.460, pursuant to KRS 45A.343.