2-15-2108. Petroleum tank release compensation board. (1) There is a petroleum tank release compensation board.

(2) The board consists of seven members appointed by the governor as follows:

(a) a representative of the financial or banking industry with experience in small business or property loans;

(b) a representative of the petroleum services industry or a representative of the petroleum release remediation consultant industry;

(c) a representative of independent petroleum marketers and chain retailers;

(d) a representative of the general public;

(e) a representative of service station dealers;

(f) a representative of the insurance industry; and

(g) a person with a background in environmental regulation.

(3) The board shall elect a presiding officer.

(4) The term of membership is 3 years.

(5) Members shall serve without pay, but are entitled to reimbursement for travel, meals, and lodging while engaged in board business, as provided in 2-18-501 through 2-18-503.