Sec. 6. (a) This section applies to the board of a county land bank established by a county that has a consolidated city.

     (b) The board of a land bank to which this section applies is comprised of the following:

(1) Three (3) directors appointed by the county executive. A director appointed under this subdivision must be a resident of the county.

(2) Three (3) directors appointed by the legislative body of the county. A director appointed under this subdivision must be a resident of the county.

(3) A director appointed by the county auditor. A director appointed under this subdivision must be a resident of the county.

(4) A director appointed by the local community foundation. A director appointed under this subdivision must be a resident of the county.

(5) At most one (1) additional director appointed, as applicable, in the manner and subject to the requirements set forth in the land bank’s bylaws.

     (c) The terms of the initial directors of a land bank to which this section applies are equal to:

(1) the remainder of the calendar year in which the land bank is established; plus

(2) a number of additional years equal to:

(A) one (1) calendar year, for directors appointed under subsection (b)(1);

(B) two (2) calendar years, for directors appointed under subsection (b)(2); and

(C) three (3) calendar years, for directors appointed under subsection (b)(3) through (b)(5).

As added by P.L.211-2016, SEC.1.