The comptroller may remove from the advisory board an advisory board member at will or for any of the following causes:
(1) at the time of the member’s appointment, the member did not have the qualifications prescribed by § 404.108 or was ineligible under § 404.109;
(2) while serving on the advisory board, the member does not maintain the qualifications prescribed by § 404.108 or becomes ineligible for appointment under § 404.109;
(3) for a substantial portion of the member’s term, the member is unable to discharge the member’s duties because of illness or disability; or
(4) without being excused by a majority vote of the advisory board, the member is absent from more than one-third of the regularly scheduled board meetings that the member is eligible to attend during a calendar year.