Section 40.05. New York state cultural education trust

1. A trust to be
  known as the "New York state cultural education trust" is hereby created
  under the  jurisdiction  of  the  state  education  department  and  its
  existence  shall  commence  with  the  appointment of the members of the
  board as provided herein.
    2. The board shall consist of five members as follows: the  chancellor
  of  the  board of regents of the university of the state of New York, or
  his or her designee from the board of regents, who shall  serve  as  the
  chair; one additional member of the board of regents, to be appointed by
  such  chancellor;  one  member  appointed  by  the  governor; one member
  appointed by the majority leader of the senate; and one member appointed
  by the speaker of the assembly. Members of the  board,  other  than  the
  representative  of the board of regents, shall be appointed to the board
  based on their knowledge and background as relevant to the  purposes  of
  the  trust,  or,  due to their experience and knowledge in the fields of
  New York state history,  collection  display  and  management  or  other
  related fields.
    3.  The  member  of  the board of regents appointed to the board shall
  serve at the pleasure of the chancellor of  the  board  of  regents  and
  shall  serve  a  term  equivalent  to his or her term as a member of the
  board of regents. The chancellor may reappoint the same  member  of  the
  board  of  regents  as  his  or her appointee for so long as such regent
  remains a member of the board of regents.
    4. The initial terms of the appointees of the governor, the speaker of
  the assembly and the majority leader of the senate shall  be  staggered,
  with the governor's appointment expiring after one year and the majority
  leader  of  the  senate's and the speaker of the assembly's appointments
  expiring after three years. All subsequent  appointments  shall  be  for
  three years.
    5.  Members  may  be  reappointed  and  may serve two consecutive full
  terms, in addition to the terms of their original appointments, but  not
  more  than  nine consecutive years. Each member shall continue in office
  until such member's successor has been  appointed  and  qualifies.  Such
  continuation  in  office  shall  not be counted in determining whether a
  member has served nine consecutive years. In  the  event  of  a  vacancy
  occurring  in  the  office of any member of the board, other than by the
  expiration of a member's term, such vacancy  shall  be  filled  for  the
  balance  of the unexpired term, if applicable, in the same manner as the
  original appointment.
    6. The members of the board  shall  serve  without  compensation,  but
  shall  be  entitled  to  reimbursement  of  their  actual  and necessary
  expenses incurred in the performance of their official duties.
    7. The powers of the trust shall be  vested  in  and  exercised  by  a
  majority of the members thereof.