Board of directors; members; vacancy; chairperson; removal

Ind. Code § 21-9-4-1

in effect

Note: This version of section effective 7-1-2027. See also preceding version of this section, effective until 7-1-2027. Sec. 1. (a) The board of directors of the authority is established. The board consists of the following: (1) The following four (4) ex officio members or directors: (A) The treasurer of state. (B) The director of the Indiana public retirement system. (C) The Indiana commissioner for higher education. (D) The budget director. (2) Five (5) members or directors who have knowledge, skill, and experience in academic, business, financial, or education fields appointed as follows: (A) One (1) member appointed by the governor. (B) Two (2) members appointed by the president pro tempore of the senate. (C) Two (2) members appointed by the speaker of the house of representatives. A member appointed under clause (B) or (C) may not be a member of the general assembly. (b) Except as otherwise provided in this section, an appointed member of the board may not be an official or employee of the state during the member's term of service on the board. (c) An appointed member serves a four (4) year term. An appointed member shall hold over after the expiration of the member's term until the member's successor is appointed and qualified. A member may be appointed to successive terms. (d) A vacancy shall be filled by the appropriate appointing authority for the balance of an unexpired term in the same manner as the original appointment. (e) The treasurer of state shall serve as chairman of the board. The board shall annually elect one (1) of its ex officio members as vice chairman, and may elect any other officer that the board desires. (f) The appointing authority may remove an appointed member for misfeasance, malfeasance, willful neglect of duty, or other cause after notice and a public hearing, unless the member expressly waives the notice and hearing in writing. As added by P.L.165-1996, SEC.1. Amended by P.L.2-2007, SEC.247; P.L.43-2021, SEC.139; P.L.152-2026, SEC.246.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/21Fetched: 10/17/2026