Board of Directors: Powers and Duties

Board of Directors: Powers and Duties. (a) The board shall: (1) Govern the operation of the MVA in a manner to further the goal and purpose of the MVA and assure its financial viability as provided for in this chapter. (2) Review and adopt long range plans, annual reports and proposed budgets submitted by the managing director as provided for in this chapter and applicable statutes. The proposed budget shall be adopted by a two-thirds vote from members of the board present at a meeting called for that purpose prior to submittal to the Governor. (3) Annually evaluate the performance of the managing director. (b) The board may: (1) Initiate action necessary to exercise the powers of the MVA established under this chapter. (2) Appoint committees and delegate its authority under this chapter to any of its committees. (3) Promulgate such rules and regulations and establish reasonable fees as are necessary to carry out its statutory mandates. Source: PL 11-15, § 7; subsection (b)(3) added by PL 18-58 § 5 (July 31, 2014). Commission Comment: See the comment to 4 CMC § 2101.