12E.5 Governing board.
1. The powers of the authority are vested in and shall be exercised by a board consisting of the treasurer of state, the auditor of state, and the director of the department of management. Notwithstanding the provisions of section 12.30, subsection 2, regarding ex officio nonvoting status, the treasurer of state shall act as a voting member of the authority.
2. Two members of the board constitute a quorum.
3. The members shall elect a chairperson, vice chairperson, and secretary, annually, and other officers as the members determine necessary. The treasurer of state shall serve as treasurer of the authority.
4. Meetings of the board shall be held at the call of the chairperson or when a majority of the members so requests.
5. The members of the board shall not receive compensation by reason of their membership on the board.
2000 Acts, ch 1208, §5, 25
Structure Iowa Code
Title I - STATE SOVEREIGNTY AND MANAGEMENT
Chapter 12E - TOBACCO SETTLEMENT AUTHORITY
Section 12E.3 - Tobacco settlement authority — created — purposes — powers — restrictions.
Section 12E.3A - Endowment for Iowa’s health account — purposes.
Section 12E.4 - Powers not restricted — law complete in itself.
Section 12E.5 - Governing board.
Section 12E.6 - Staff — assistance by state officers, agencies, and departments.
Section 12E.7 - Limitation of liability.
Section 12E.8 - General powers.
Section 12E.9 - Authorization of the sale of rights in the master settlement agreement.
Section 12E.10 - Tobacco settlement program plan.
Section 12E.11 - Authority — bonds.
Section 12E.12 - Tobacco settlement trust fund — established — investment — liability.
Section 12E.13 - Moneys of the authority.
Section 12E.14 - Exemption from competitive bid laws.
Section 12E.15 - Annual report.