A. The members of the banking advisory board appointed prior to the effective date of this act shall continue in office for the terms for which they were last appointed.
B. Subject to the provisions of subsection A of this section, and subject to removal pursuant to section 306, each member of the board shall hold office for a term of four years, and thereafter until his successor is appointed and has qualified.
C. Members of the board shall be eligible for reappointment, subject, however, to compliance with the provisions of section 306.
D. Any vacancy in the board shall be filled for the unexpired portion of the term in the same manner as for a full term.