1.  The Credit Union Advisory Council, consisting of five members appointed by the Governor, is hereby created to consult with, advise and make recommendations to the Commissioner in all matters pertaining to credit unions.

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2.  The Governor shall appoint members who have tested credit union experience from a list of recommended names submitted by the Nevada Credit Union League.

3.  After the initial terms, members serve terms of 4 years, except when appointed to fill unexpired terms.

4.  The Chair of the Advisory Council must be elected annually by and from the members thereof.

5.  The meetings of the Advisory Council may be held at such times and places as the Chair or Commissioner determines and the Advisory Council may meet at least once every 6 months.