Managing Director. (a) The board members appointed under 4 CMC § 2111(a)(1) shall appoint a managing director who shall serve at the pleasure of such board members. (b) The managing director shall be the MVA's chief executive officer and shall operate and maintain the MVA's services and facilities. (c) The board members appointed under 4 CMC § 2111(a)(1) shall set the managing director's level of compensation pursuant to 1 CMC § 8246. Source: PL 11-15, § 8. Commission Comment: See the comment to 4 CMC § 2101.