Page:United States Statutes at Large Volume 108 Part 3.djvu/416

 108 STAT. 2168 PUBLIC LAW 103-325—SEPT. 23, 1994 (B) the Secretary of Commerce or his or her designee; (C) the Secretary of Housing and Urban Development or his or her designee; (D) the Secretary of the Interior or his or her designee; (E) the Secretary of the Treasury or his or her designee; (F) the Administrator of the Small Business Administration or his or her designee; and (G) 9 private citizens, appointed by the President, who shall be selected, to the maximum extent practicable, to provide for national geographic representation and racial, ethnic, and gender diversity, including— (i) 2 individuals who are officers of existing community development financial institutions; (ii) 2 individuals who are officers of insured depository institutions; (iii) 2 individuals who are officers of national consumer or public interest organizations; (iv) 2 individuals who have expertise in community development; and (v) 1 individual who has personal experience and specialized expertise in the unique lending and community development issues confronted by Indian tribes on Indian reservations. (3) CHAIRPERSON.—The members of the Board specified in paragraph (2)(G) shall select, by majority vote, a chairperson of the Board, who shall serve for a term of 2 years. (4) BOARD FUNCTION.— It shall be the function of the Board to advise the Administrator on the policies of the Fund regarding activities under this subtitle. The Board shall not advise the Administrator on the granting or denial of any particular application. (5) TERMS OF PRIVATE MEMBERS. — (A) IN GENERAL.— Each member of the Board appointed under paragraph (2)(G) shall serve for a term of 4 years. (B) VACANCIES.— Any member appointed to fill a vacancy occurring prior to the expiration of the term for which the previous member was appointed shall be appointed for the remainder of such term. Members may continue to serve following the expiration of their terms until a successor is appointed. (6) MEETINGS. —The Board shall meet at least annually and at such other times as requested by the Administrator or the chairperson. A majority of the members of the Board shall constitute a quorum. (7) REIMBURSEMENT FOR EXPENSES.—The members of the Board may receive reimbursement for travel, per diem, and other necessary expenses incurred in the performance of their duties, in accordance with the Federal Advisory Committee Act. (8) COSTS AND EXPENSES.— The Fund shall provide to the Board all necessary staff and facilities. (e) CONFORMING AMENDMENTS.— Section 9101(3) of title 31, United States Code, is amended— (1) by redesignating subparagraphs (B) through (M) as subparagraphs (C) through (N), respectively; and (2) by inserting after subparagraph (A) the following new subparagraph:

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