Section 720.3 - Energy Development Authority (Adm. Code Section 2803-C)(a) There is hereby established the Energy Development Authority.(b) The authority shall be governed and all of its corporate powers exercised by a board of directors which shall be composed of the following individuals: (1) Nine members to be appointed by the Governor, one of whom shall be designated as chairman. At least two members shall be members of the general public. The members initially appointed shall serve for terms of two, three and four years, respectively, the particular term of each to be designated by the Governor at the time of appointment. The terms of all of their successors shall be four years each, except that any person appointed to fill a vacancy shall serve only for the unexpired term. Every member's term shall extend until his successor is appointed and qualified. Any appointment of a member of the authority shall be subject to the advice and consent of a majority of all of the members of the Senate. Any appointed member of the authority shall be eligible for reappointment.(2) The Secretary of Environmental Resources or his designee.(3) The Secretary of Banking or his designee.(4) The Secretary of Commerce or his designee.(5) The Secretary of Agriculture or his designee.(6) Two members of the Senate, one from the majority party and one from the minority party, to be appointed by the President pro tempore to serve at his pleasure, or the designees appointed by such members.(7) Two members of the House of Representatives, one from the majority party and one from the minority party, to be appointed by the Speaker of the House to serve at his pleasure, or the designees appointed by such members.(8) The Consumer Advocate or his designee.(9) The Chairman of the Public Utility Commission or his designee.(c) The members of the board of directors shall be entitled to no compensation for their services as members but shall be entitled to reimbursement for all necessary expenses incurred in connection with the performance of their duties as members.(d) The Board of Directors shall provide for the holding of regular and special meetings. Ten directors attending shall constitute a quorum for the transaction of any business and at least six votes shall be required to adopt any action, except that at least nine votes shall be required to approve financial assistance for any project.1929, April 9, P.L. 177, art. XXVIII-C, § 2803-C, added 1982, Dec. 14, P.L. 1213, No. 280, § 2, effective in 60 days. Amended 1985, July 11, P.L. 211, No. 55, § 3, imd. effective.