2010 Florida Statutes
Florida Black Business Investment Board, Inc.; findings; creation; membership; organization; meetings; disclosure.
Florida Black Business Investment Board, Inc.; findings; creation; membership; organization; meetings; disclosure.—
The Legislature finds that the public interest of the state will be served by the creation of a not-for-profit corporation, the primary mission of which is to assist in the development and expansion of black business enterprises by:
Advising the Office of Tourism, Trade, and Economic Development in its oversight of the Black Business Loan Program and assisting in the creation of a long-range strategic policy for the program.
Evaluating the unmet need for capital by black business enterprises in the state.
Creating partnerships between federal, state, and local governments, private enterprises, and national organizations to aid in the development and expansion of black business enterprises.
Providing a network of information resources for black business enterprises and providing technical assistance through this network.
There is created a not-for-profit corporation to be known as the “Florida Black Business Investment Board, Inc.,” referred to in ss. 288.707-288.714 as the board, which shall be registered, incorporated, organized, and operated in compliance with chapter 617 and which must not be a unit or entity of state government. The Legislature determines, however, that public policy dictates that the board operate in the most open and accessible manner consistent with its public purpose. Therefore, the Legislature specifically declares that the board and its advisory committees or similar groups created by the board, including any subsidiaries, are subject to the provisions of chapter 119, relating to public records, and the provisions of chapter 286, relating to public meetings and records.
The board shall be governed by a board of directors chosen as follows:
Four members appointed by the Governor who shall serve terms of 4 years each, except that in making initial appointments, the Governor shall appoint three members to serve for terms of 2 years each and two members to serve for terms of 3 years each.
One member appointed by the President of the Senate who shall serve a term of 2 years.
One member appointed by the Speaker of the House of Representatives who shall serve a term of 2 years.
The vice chair of Enterprise Florida, Inc., or his or her designee, who shall be an ex officio, nonvoting member.
Two at-large members selected by the board of directors who are nationally known for their achievements in finance, small business development, or economic development.
Four presidents of participating black business investment corporations who shall be appointed by the Executive Director of the Office of Tourism, Trade, and Economic Development upon the recommendation of the Florida Consortium of Black Business Investment Corporations, Inc., to serve for terms of 3 years each. Each shall be eligible for reappointment to one additional term of 3 years.
Members of the board must have experience in business, including financial services, banking, or economic development. At least one of the Governor’s appointees must have experience in venture capitalism.
Any person appointed to fill a vacancy on the board shall be appointed in a like manner and shall serve for only the remainder of the unexpired term. Any member shall be eligible for reappointment.
The board shall elect a chair and vice chair from among its members for a term of 2 years. The chair may be removed by a two-thirds vote of the membership of the board.
The board shall meet at least four times annually upon the call of the chair or vice chair or at the request of a majority of the membership. A majority of the total number of current members of the board shall constitute a quorum. The board may take official action by a majority vote of the members present at any meeting at which a quorum is present.
Members of the board shall serve without compensation, but members, the president of the board, and other board employees may be reimbursed for all reasonable, necessary, and actual expenses as determined and approved by the board pursuant to s. 112.061.
ss. 9, 32, ch. 85-104; s. 9, ch. 94-136; s. 28, ch. 94-322; s. 878, ch. 95-148; ss. 61, 64, ch. 96-320; s. 47, ch. 99-251; s. 1, ch. 2002-180; s. 6, ch. 2007-157; s. 1, ch. 2010-39.