There is hereby created the State Board of Corrections which shall be the governing board of the Department of Corrections. The Board shall consist of the following nine (9) members:
1. Five members appointed by the Governor;
2. Two members appointed by the Speaker of the House of Representatives; and 3. Two members appointed by the President Pro Tempore of the Senate. Each member shall serve at the pleasure of his or her appointing authority and may be removed or replaced without cause. Any member of the Board shall be prohibited from voting on any issue in which the member has a direct financial interest. The Director of Corrections shall be an ex officio member of the Board, but shall be entitled to vote only in case of a tie vote.