2006 New York Code - New York State Thoroughbred Breeding And Development Fund.

 
    § 245. New York state thoroughbred breeding and development fund. 1. A
  corporation  to be known as the New York state thoroughbred breeding and
  development fund corporation is hereby created. Such  corporation  shall
  be   a   body  corporate  and  politic  constituting  a  public  benefit
  corporation. It shall be administered by a board of directors consisting
  of the chairman of the state racing and wagering board, the commissioner
  of agriculture and markets, the members of the state  racing  commission
  as defined in section one hundred three of this chapter, and six members
  appointed  by  the  governor,  all  of whom are experienced or have been
  actively engaged in the breeding of  thoroughbred  horses  in  New  York
  state,  one,  the  president  or the executive director of the statewide
  thoroughbred breeders association representing the majority of  breeders
  of   registered   thoroughbreds   in   New  York  state,  one  upon  the
  recommendation of the majority  leader  of  the  senate,  one  upon  the
  recommendation   of   the   speaker   of  the  assembly,  one  upon  the
  recommendation of the minority leader of the senate, and  one  upon  the
  recommendation  of  the  minority  leader  of  the  assembly. Two of the
  appointed members shall initially serve for a two year term, two of  the
  appointed members shall initially serve for a three year term and two of
  the  appointed  members  shall initially serve for a four year term. All
  successors appointed members shall serve  for  a  four  year  term.  All
  members  shall  continue  in  office  until  their  successors have been
  appointed and qualified. The governor shall  designate  the  chair  from
  among the sitting members who shall serve as such at the pleasure of the
  governor.
    2.  The  powers  of  the  fund shall be vested in and exercised by the
  board at a meeting duly held at a time fixed by any  by-law  adopted  by
  the  board  or  at  any duly adjourned meeting of such meeting or at any
  meeting held upon reasonable notice to  all  of  the  directors,  and  a
  majority  of  the  whole  number of directors shall constitute a quorum;
  provided that neither the business nor the powers of the fund  shall  be
  transacted  or exercised except pursuant to a favorable vote of at least
  a majority of the directors present at a meeting at which a quorum is in
  attendance.
    3. The board may delegate to one or more of the  directors,  officers,
  agents  or  employees  of the fund such powers and duties as it may deem
  proper and may utilize, pursuant to a contract approved by the  director
  of  the  budget,  the service employees of the state racing and wagering
  board.
    4. The directors shall not be entitled to any compensation  for  their
  services  but  shall  be  entitled to reimbursement for their actual and
  necessary expenses incurred in the performance of their official duties.
    5. Such members, except as otherwise provided by law,  may  engage  in
  private  employment,  or  in  a  profession  or  business  including the
  breeding and racing of  thoroughbred  horses.  The  fund,  its  members,
  officers  and  employees  shall be subject to the provisions of sections
  seventy-three and seventy-four of the public officers law.