(a) (1) The Board consists of 14 trustees.
(2) The nonvoting trustees are:
(i) the Secretary;
(ii) a member of the House of Delegates, appointed by the Speaker of the House; and
(iii) a member of the Senate, appointed by the President of the Senate.
(3) With the advice and consent of the Senate, the Governor shall appoint 11 voting trustees, consisting of:
(i) four representatives of the public; and
(ii) one representative of each of the following:
1. title companies doing business in the State;
2. financial institutions doing business in the State;
3. political subdivisions;
4. nonprofit housing developers;
5. for profit housing developers;
6. public housing authorities; and
7. social services providers.
(b) In appointing trustees, the Governor shall consider geographic representation.
(c) Service as a trustee is not a State office or State employment for purposes of any prohibition against holding two public positions.
(d) (1) The term of a voting trustee is 4 years.
(2) The terms of voting trustees are staggered as required by the terms provided for voting trustees on October 1, 2005.
(3) At the end of a term, a voting trustee continues to serve until a successor is appointed and qualifies.
(4) A voting trustee who is appointed after a term has begun serves only for the rest of the term and until a successor is appointed and qualifies.