53D-1-503. Process of nominating candidates for board membership.
(1) The nominating committee shall nominate at least two candidates for each position or vacancy on the board.
(2) The nominating committee shall: nominate candidates who meet the criteria stated in Subsection; and 53D-1-301(3) consider the character and reputation of candidates the nominating committee nominates.
(3) If the state treasurer considers the candidates nominated under Subsectionto be unacceptable, the state treasurer may request the nominating committee to nominate at least two other candidates per appointment. (1)
(4) As many times as the state treasurer considers candidates nominated by the nominating committee to be unacceptable under Subsection, the nominating committee shall follow the process described in Subsectionsanduntil the state treasurer appoints a candidate. (3) (1) (2)