Section 3151. New York state foundation for science, technology and innovation; creation; governance; and membership

1. Creation. There  is  hereby  created  within  the  public  authorities  law  a foundation for
  science, technology and innovation.
    2. Governance. The foundation shall be governed and all of its  powers
  exercised  by  a  board  of  directors to be known as the New York state
  foundation for science, technology and  innovation  board,  which  shall
  consist of thirteen voting members.
    3.  Membership.  The  voting  members  of  the  foundation board shall
  consist of: the executive director of the New York state foundation  for
  science,  technology  and  innovation who shall be a permanent member of
  the foundation board, seven members from the private sector, two of whom
  shall be appointed by the temporary president of the senate, two of whom
  shall be appointed by the speaker of the assembly,  and  three  of  whom
  shall  be  appointed  by the governor with the advice and consent of the
  senate, provided that all seven members are employed within the  private
  sector throughout the time of their appointment to the foundation board.
  The  private  sector  members shall demonstrate leadership and expertise
  and be broadly representative across different business sectors  of  the
  state  and  shall  include, but not be limited to representatives of the
  industrial technology research and development  sector,  small  business
  high  technology  sector;  minority  and women business enterprises, the
  venture capital industry; five additional  members  shall  be  appointed
  from  among the academic, government, and workforce development sectors,
  three of whom shall be appointed by the governor, with  the  advice  and
  consent  of  the senate, one of whom shall be appointed by the temporary
  president of the senate, and one of  whom  shall  be  appointed  by  the
  speaker   of   the   assembly;   and  representatives  of  the  regional
  partnerships  as  established  in  this  section  shall  also  serve  as
  non-voting  members  of  the board, provided that each partnership shall
  nominate one of its members to serve  as  a  non-voting  member  of  the
  board.  All  members of the foundation board shall serve at the pleasure
  of the appointing authority and, notwithstanding any other provision  of
  law,  shall be subject to sections seventy-three and seventy-four of the
  public officers  law.  The  chair  of  the  foundation  board  shall  be
  appointed by the governor from among the private sector members with the
  advice  and consent of the senate. All other officers of the board shall
  be elected from among the voting members of the board  of  directors  by
  the  majority vote of currently serving voting members of the foundation
  board. The executive director of the foundation shall  be  appointed  by
  the  governor,  with the advice and consent of the senate. The executive
  director of the  New  York  state  office  of  science,  technology  and
  academic  research  shall  become  the interim executive director of the
  foundation, and shall be the executive director of the foundation  until
  the  executive  director of the foundation is appointed by the governor,
  with the advice and consent of the senate. The members of the  New  York
  state  office  of  science,  technology  and  academic research advisory
  council shall serve as interim voting members of  the  foundation  board
  until the appointing authority appoints voting members of the foundation
  board.  Nothing contained herein shall prohibit a member of the New York
  state office of  science,  technology  and  academic  research  advisory
  council  from being appointed as a voting member of the foundation board
  by the appropriate appointing authority.
    4. Meetings. The board shall provide for the holding  of  regular  and
  special  meetings.  A  majority  of the currently serving voting members
  shall constitute a quorum for  the  transaction  of  any  business  and,
  unless  a  greater  number is required by the by-laws of the foundation,
  the acts of the majority of the currently serving voting members present

  at a meeting at which a quorum is present shall be deemed to be the acts
  of the board.
    5.  By-laws.  The board shall adopt by-laws for the foundation and may
  appoint such officers and employees as it deems necessary  and  may  fix
  their compensation and prescribe their duties.
    6. Compensation. Board members shall receive no compensation for their
  services  but  shall  be  reimbursed  for  their  expenses  actually and
  necessarily incurred by them in the performance of  their  duties  under
  this  title. No director, officer or employee of the foundation shall be
  disqualified from holding any public employment, nor shall they  forfeit
  any   such   employment   by   reason  of  their  appointment  hereunder
  notwithstanding the provisions of any general,  special  or  local  law,
  ordinance or city charter.
    7.  Conflict of interest. No employee or officer of the board shall be
  a party to or have any financial interest in any project  that  receives
  financial  assistance  pursuant to this title. No member of the board of
  directors shall participate in a decision on the awarding of  any  grant
  or contract to an organization with whom such member is affiliated.
    8.  Prohibited  members.  No statewide or locally elected official nor
  any members of the state legislature shall be appointed as sitting board
  members of the foundation.
    9. Representatives. A member of the board may designate an officer  or
  employee  to  represent  him or her at meetings of the board. A designee
  may lawfully vote and otherwise act on  behalf  of  the  member  of  the
  board.  The designation shall be in writing, delivered to the foundation
  and continue in effect until revoked or amended in writing.
    10. Regulations.  The  foundation  shall  promulgate  such  rules  and
  regulations as necessary to carry out the provisions of this title.
    11.  Limitation  of liability. Neither the members nor any officers or
  employees of the foundation, while acting within the scope of his or her
  authority, shall be subject to any personal liability resulting from the
  activities of the foundation.