S 814 — Retirement System Investment Commission- ex officio board member

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Document has been reformatted to meet World Wide Web specifications.)                 A bill   TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 54-3-10, RELATING TO THE STATE PORTS AUTHORITY BOARD OF DIRECTORS MEMBERSHIP, SO AS TO ADD THE CHIEF EXECUTIVE OFFICER OF THE RETIREMENT SYSTEM INVESTMENT COMMISSION AS AN EX OFFICIO MEMBER AND TO PERMIT EX OFFICIO MEMBERS TO ATTEND EXECUTIVE SESSION MEETINGS;

BY AMENDING SECTION 54-3-20, RELATING TO THE STATE PORTS AUTHORITY BOARD OF DIRECTORS APPOINTMENT AND TERMS OF MEMBERSHIP, SO AS TO EXCLUDE THE CHIEF EXECUTIVE OFFICER OF THE RETIREMENT SYSTEM INVESTMENT COMMISSION FROM APPOINTMENT BY THE GOVERNOR;

BY AMENDING SECTION 54-3-60, RELATING TO THE STATE PORTS AUTHORITY BOARD MEMBER QUALIFICATIONS, SO AS TO EXCLUDE THE CHIEF EXECUTIVE OFFICER OF THE RETIREMENT SYSTEM INVESTMENT COMMISSION;

AND BY AMENDING SECTION 58-31-20, RELATING TO THE PUBLIC SERVICE AUTHORITY BOARD OF DIRECTORS, SO AS TO ADD THE CHIEF EXECUTIVE OFFICER OF THE RETIREMENT SYSTEM INVESTMENT COMMISSION AS AN EX OFFICIO MEMBER.

  Be it enacted by the General Assembly of the State of South Carolina:

  SECTION 1.  Section 54-3-10 of the S.C.

Code is amended to read:

      Section 54-3-10.

(A) There is created the South Carolina State Ports Authority.

The governing body of the authority is a board of directors consisting of eleventwelve members, nine voting members appointed by the Governor as provided in Section 54-3-20, the Secretary of Transportation, or his designee, and the Secretary of Commerce, or his designee, and the Chief Executive Officer of the Retirement System Investment Commission, or his designee.

The voting members shall be responsible for setting policies and direction for the authority so that the authority may achieve its mission.

The powers and duties of the authority shall be exercised by the board.

The board may delegate to one or more officers, agents, or employees such powers and duties as it determines are necessary and proper for the effective, efficient operation of the port.

    (B) The Secretary of Transportation, and the Secretary of Commerce, and the Chief Executive Officer of the Retirement System Investment Commission:

       (1) shall serve on the board, ex officio, as nonvoting members;

and        (2) are ineligible for election as chairman, vice chairman, secretary, treasurer, or any other office elected by the board.;

and        (3) may only attend meetings or portions of meetings open to the public.

They are not permitted to attend executive session meetings.

  SECTION 2.  Section 54-3-20(A) of the S.C.

Code is amended to read:

      (A) The members of the board, except for the Secretary of Transportation, and the Secretary of Commerce, and the Chief Executive Officer of the Retirement System Investment Commission shall be appointed by the Governor, with the advice and consent of the Senate, for terms of five years each and until their successors shall have been appointed, screened, and qualified.

In the event of a vacancy, however caused, a successor shall be appointed in the manner of original appointment for the unexpired term.

  SECTION 3.  Section 54-3-60(A) of the S.C.

Code is amended to read:

      (A) Each member of the board, except for the Secretary of Transportation, and the Secretary of Commerce, and the Chief Executive Officer of the Retirement System Investment Commission, or their designees, must possess a four-year baccalaureate or more advanced degree from:

       (1) a recognized institution of higher learning requiring face-to-face contact between its students and instructors prior to completion of the academic program;

       (2) an institution of higher learning that has been accredited by a regional or national accrediting body;  or        (3) an institution of higher learning in this State chartered prior to 1962.

  SECTION 4.  Section 58-31-20(E) of the S.C.

Code is amended to read:

      (E)(1) The following shall be nonvoting ex officio members of the board of directors entitled to attend all meetings of the Authority board, including any executive sessions, except as set forth below:

    The Chairman of Central Electric Power Cooperative, or his designee, and one member of the Board of Central Electric Power Cooperative chosen by that board who is not the chairman or his designee, and the Chief Executive Officer of the Retirement System Investment Commission, or his designee.

The ex officio members shall have the same obligations and duties as other members of the board, except the obligation to vote, and are subject to removal in the same manner as other board members except the Chief Executive Officer of the Retirement System Investment Commission.

An ex officio member that has otherwise satisfied all obligations and duties owed to the Public Service Authority shall not be liable for matters directly related to either the process of voting nor a decision determined by a vote of the board of directors.

       (2) The ex officio members, except the Chief Executive Officer of the Retirement System Investment Commission, may be excluded from executive session where the following matters are being discussed:

           (a) negotiations incident to proposed contractual arrangements with a customer, including Central Electric Cooperative, Inc., or receiving legal advice involving a customer, Central Electric Power Cooperative, Inc., or one of its members;

or            (b) discussions regarding generation resources that will not be shared resources under any wholesale power supply agreement between the Authority and Central Electric Power Cooperative or receiving legal advice in relation thereto.

    Upon advice of counsel that a conflict may exist for an ex officio member of the board to attend an executive session or a portion thereof to discuss matters other than (a) and (b), the board may exclude, by a majority vote, the ex officio member from those portions of an executive session for which a conflict may exist.

       (3) When ex officio members are excluded from executive session, the reason for the conflict must be stated before the vote is taken and shall be recorded in official minutes or other records of the meeting.