20 U.S.C. § 4703 : US Code - Section 4703: Establishment of Barry Goldwater Scholarship and Excellence in Education Foundation

Search 20 U.S.C. § 4703 : US Code - Section 4703: Establishment of Barry Goldwater Scholarship and Excellence in Education Foundation

(a) Establishment
There is established, as an independent establishment of the
executive branch of the United States Government, the Barry
Goldwater Scholarship and Excellence in Education Foundation.
(b) Board of Trustees
The Foundation shall be subject to the supervision and direction
of the Board of Trustees. The Board shall be composed of 13
members, as follows:
(1) Two members from the Senate, one appointed by the majority
leader and one appointed by the minority leader of the Senate.
(2) Two members from the House of Representatives, one
appointed by the majority leader and one appointed by the
minority leader of the House of Representatives.
(3) Eight members, not more than four of whom shall be of the
same political party, to be appointed by the President, by and
with the advice and consent of the Senate.
(4) The Secretary of Education, or his designee, who shall
serve ex officio as a member of the Board but shall not be
eligible to serve as Chairman.
(c) Term of office
(1) The term of office of each member of the Board shall be six
years, except that -
(A) the members first taking office shall serve as designated
by the President, four for terms of two years, five for terms of
four years, and four for terms of six years;
(B) a member appointed to fill a vacancy shall serve for the
remainder of the term for which his predecessor was appointed and
shall be appointed in the same manner as the original appointment
for that vacancy was made; and
(C) notwithstanding the term limitation provided for under this
paragraph, a member appointed under subsection (b) of this
section may continue to serve under such appointment until the
successor to the member is appointed.
(2) A Member of Congress appointed to the Board under clause (1)
or (2) of subsection (b) of this section may not serve as a member
of the Board for more than a total of six years.
(d) Travel and subsistence pay
Members of the Board shall serve without pay, but shall be
entitled to reimbursement for travel, subsistence, and other
necessary expenses incurred in the performance of their duties.