(1) There is created a State Bonding Commission composed of: (a) the governor; (b) the state treasurer; and (c) a third person appointed by the governor to serve a four-year term, who is a member of a political party different from that of the governor. (d) When the at-large position becomes vacant for any reason, the replacement shall be appointed for the unexpired term. (2) The commission shall exercise the powers and perform the duties prescribed for the commission by statute. (3) A member may not receive compensation or benefits for the member's service, but may receive per diem and travel expenses in accordance with: (a) Section 63A-3-106; (b) Section 63A-3-107; and (c) rules made by the Division of Finance pursuant to Sections 63A-3-106 and 63A-3-107.
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