NY Banking L § 213 (2021)
2021 New York Laws BNK - Banking Article 5-A - New York Business Development Corporation 213 - Board of Directors.

§ 213.  Board  of  directors.  1.  All  the  corporate  powers of such   corporation shall be exercised by a board of directors consisting  of  a   maximum  of  thirty persons, all of whom shall be of full age, residents   of the state and at least one-half of whom  shall  be  citizens  of  the   United States.2.  The  president  of such corporation, who shall be appointed by the   board, shall serve as a director.3. At each annual meeting of such corporation,  the  members  of  such   corporation  shall elect up to ten directors for a term of one year, who   shall, to the extent possible, represent different economic  regions  as   defined  in section two hundred eleven of this article. The exact number   shall be established in the by-laws by the board of directors.  In  such   elections, members of such corporation shall have one vote each.4.  At such annual meetings the stockholders of such corporation shall   elect up to seven directors for a term  of  one  year  each.  The  exact   number shall be established in the by-laws by the board of directors.5.  One  director  shall  be appointed by any of the entities that are   members or stockholders of such  corporation  and  whose  membership  or   stockholder  interest  meets  a minimum commitment as established in the   by-laws by the board of directors.6. The directors elected by the members  and  the  stockholders  shall   elect  three  additional directors: one representing minority interests,   one representing women's interests, and  one  representing  regional  or   local development corporations' interests.7.    The state commissioner of the department of economic development   shall be a director exofficio.7-a. Two directors shall be appointed by the governor, who shall serve   at the pleasure of the governor; one director shall be appointed by  the   temporary  president  of  the senate, who shall serve at the pleasure of   the temporary president; one director shall be appointed by  the  senate   minority leader, who shall serve at the pleasure of the minority leader;   and  one  appointed  by the assembly minority leader, who shall serve at   the pleasure of the minority leader; and one director shall be appointed   by the speaker of the assembly, who shall serve at the pleasure  of  the   speaker.8.  If  any director shall lose his citizenship or shall cease to be a   resident of the state, he shall immediately vacate  his  position  as  a   director and such position shall thereupon be deemed vacant.9.  If  any  vacancy  occurs in the elected membership of the board of   directors  through  death,  resignation  or  otherwise,  the   remaining   directors  shall  elect  a person to fill such vacancy for the unexpired   term.10. Upon the expiration of their terms, the  elected  directors  shall   continue  as  such  until  their  successors  have been elected and have   qualified.11. The board of directors shall elect one of its members as  chairman   and  one  of  its  members  as  vice-chairman of such board, shall adopt   by-laws  for  such  corporation,  and  may  appoint  such  officers  and   employees as it deems advisable.