The Governor may remove any member of the Board for misconduct, incompetency or neglect of duty. Each member of the Board? shall be a resident of this State at the time of his appointment. Payment of compensation and reimbursement of expenses of Board members shall be governed by N.C. Gen. Stat. § 93B-5 (1955, c. 912, s. 2; 1969, c. 445, s. 9; 1979, c. 712, ss. 2, 7.)