There is hereby established in the office of the state treasurer a state treasurer investment advisory board, hereinafter referred to as the "investment board." This investment advisory board shall consist of the state treasurer, who shall act as chairman of the investment board, and members hereinafter designated who shall be appointed by the governor subject to senate confirmation. The members of the investment advisory board subject to appointment shall be: five (5) public members from the citizenry at large who are knowledgeable and experienced in financial matters and in the placement or management of investment assets and have at least ten (10) years experience in such endeavors.
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