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198A.725 Advisory committee for trust fund.
(1)
(2)
(3)
(4)
(5)
The corporation shall create an advisory committee for the trust fund consisting
of eleven (11) members appointed by the chairman of the board of directors of
the corporation.
(a) Three (3) members shall be appointed from representatives of each of
the following categories of organizations:
1.
The Home Builders Association of Kentucky, the Kentucky
Manufactured Housing Institute, the Apartment Association, the
Kentucky Association of Realtors, the Kentucky State Building
Trades Council, the Mortgage Bankers Association of Kentucky, and
the Kentucky Bankers Association;
2.
The Homeless and Housing Coalition of Kentucky, builders or
nonprofit housing organizations, support service providers,
homeless persons, and very low-income tenants; and
3.
The Kentucky Association of Counties, the Kentucky League of
Cities, and agencies of state government.
(b) The remaining two (2) members appointed shall include one (1) member
of the Kentucky Senate and one (1) member of the Kentucky House of
Representatives.
Upon organization of the advisory committee three (3) members shall continue
in office for three (3) years, three (3) members shall have two (2) year terms,
and three (3) members shall have a one (1) year term, as designated by the
chairman of the board of directors. Thereafter, all members appointed shall
serve a three (3) year term or until their successors are appointed and duly
qualified. A vacancy on the advisory committee shall be filled pursuant to the
requirements and procedures for original appointments. Members of the
advisory committee may be reappointed one (1) time.
The advisory committee shall consult with and advise the officers and directors
of the corporation concerning matters relating to the trust fund.
The advisory committee shall elect a presiding officer from its members and
may establish its own rules of procedure which shall not be inconsistent with
the provisions of this chapter.
Members of the advisory committee shall serve without compensation.
Members who are not employees of the Commonwealth shall be entitled to
reimbursement for actual expenses incurred in carrying out their duties on the
committee.
Effective:July 14, 1992
History: Created 1992 Ky. Acts ch. 458, sec. 6, effective July 14, 1992.
Legislative Research Commission Note (7/14/92). In codifying the text of this
section, the words "and three (3) members shall have two (2) year terms," have
been omitted from subsection (2) because this text is repetitive and appears to
be a manifest clerical or typographical error under KRS 7.136(1).
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