53-25-105. Program oversight committee -- membership -- powers and duties. (1) The department shall establish a program oversight committee under the authority of the department.

(2) The committee must consist of five members as follows:

(a) the director of the department of public health and human services or the director's designee;

(b) the director of the department of administration or the director's designee; and

(c) three members of the general public, one of whom possesses knowledge, skill, and experience in accounting, risk management, or investment management or as an actuary, one of whom has experience working on behalf of disabled individuals, and one of whom has a disability.

(3) (a) Except as provided in subsection (3)(b), the governor shall appoint the public members of the committee to staggered terms of 4 years. The members are not subject to senate confirmation.

(b) The governor shall make the initial appointment of the public members as follows:

(i) one person to serve a 2-year term;

(ii) one person to serve a 3-year term; and

(iii) one person to serve a 4-year term.

(4) The committee shall select a presiding officer and a vice presiding officer from among the committee's membership.

(5) A majority of the membership constitutes a quorum for the transaction of business. The committee shall meet at least once a year, with additional meetings called by the presiding officer.

(6) The committee:

(a) shall recommend financial institutions for approval by the department to act as the managers of accounts as provided in 53-25-112; and

(b) may submit proposed policies to the department to help implement and administer this chapter.

(7) The committee is allocated to the department for administrative purposes only, as provided in 2-15-121.

(8) Members of the committee must be compensated as provided in 2-15-124.