§ 120. Advisory board; creation. 1. There is hereby created in the division of minority and women's business development a minority and women-owned business enterprise advisory board. The board shall consist of twelve members to be appointed by the governor. The governor shall designate a chairperson from the members of the advisory board, to serve as such at the pleasure of the governor. In appointing the members of the advisory board the governor shall ensure that six of the members are individuals who are currently involved in the ownership and/or operation of a minority or women-owned business enterprise or who have extensive experience in minority and women-owned business enterprise ownership and/or operation, and that at least two of the members are individuals representing banking, community development financial, insurance or surety bonding institutions.

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2. All members of the advisory board shall serve for terms of three years, such terms to commence on April first, and expire on March thirty-first; provided, however, that of the six members first appointed two shall be appointed for one-year terms expiring on March thirty-first, nineteen hundred ninety-three, two shall be appointed for two-year terms expiring on March thirty-first, nineteen hundred ninety-four, and two shall be appointed for three year terms expiring on March thirty-first, nineteen hundred ninety-five; and that four additional members, one on the recommendation of the temporary president of the senate, one on the recommendation of the minority leader of the senate, one on the recommendation of the speaker of the assembly and one on the recommendation of the minority leader of the assembly shall be appointed for three year terms expiring on March thirty-first, nineteen hundred ninety-five and every three years thereafter.

3. The advisory board shall meet regularly at least one time in each year. Special meetings may be called by its chairperson and shall be called by the chairperson at the request of the director of the division of minority and women's business development.

4. No member of the advisory board shall be disqualified from holding any other public office or employment, nor forfeit any such office or employment by reason of appointment hereunder, notwithstanding the provisions of any general, special or local law, ordinance or city charter.

5. The members of the advisory board shall receive no compensation for their services but shall be allowed their actual and necessary expenses incurred in the performance of their duties hereunder.

6. The board shall have the power and duty to:

(a) advise the commissioner in carrying out the functions, powers and duties of the division, as set forth in this article;

(b) advise the commissioner, the governor, and the legislature concerning recommended legislation necessary to foster and promote the prosperity, expansion and development of minority and women-owned business enterprises within the state;

(c) advise the commissioner, the governor, and the legislature concerning existing laws, rules, regulations and practices of state agencies which are counter-productive or inimical to the prosperity, expansion and development of minority and women-owned business enterprises within the state;

(d) advise the commissioner, the governor, and the legislature concerning the development of inter-governmental cooperation among agencies of the federal, state and local governments and cooperation between private industry and government so as to assure the optimum development of minority and women-owned business enterprises; and

(e) serve as a catalyst for creating and maintaining a minority and women-owned business enterprise consciousness in New York state.

(f) establish procedures for making annual awards to be known as "New York State Minority and Women-Owned Business Excelsior Awards". These non-monetary awards shall be given in recognition of unusual performance by persons, firms and organizations which are engaged in the operation of a New York state minority and women-owned business enterprise or which are engaged in activities to assist minority and women-owned business enterprises in the state. The board may nominate up to five award winners annually and forward such names to the governor for consideration. The governor may designate award winners from these nominees. Current members of the advisory board are not eligible as nominees.

7. The commissioner shall provide the board with such staff assistance and support services as necessary for the board to perform the functions required of it under this section.