Section 4March 10, 1990, Sec./Art. 4

Governing Body. - The Authority shall be governed by a Board of Administrators consisting of a Chairman and six (6) members to be appointed by the President, all of whom shall be chosen from among the nominees of the cooperative sector with two (2) representatives each from Luzon, Visayas and Mindanao. They shall serve for a term of six (6) years without reappointment: Provided, That among those first appointed, the Chairman shall serve for a term of (6) years, three (3) members to serve for a term of four (4) years, and three (3) members to serve for a term of two (2) years: Provided, further, That there shall be four (4) ex officio members, one (1) each from the: (a) Department of Agriculture, (b) Department of Transportation and Communications, (c) National Electrification Administration, and (d) Sugar Regulatory Administration.

Said representation status for the agencies is on a nonvoting basis and terminates one (1) year from the operation of the Authority, but said ex officio members shall not be holding any other board position in any government entity. The Chairman and members shall serve on a full-time basis. Any vacancy in the Board shall be filled by appointment by the President in accordance with the membership allocation set forth in this section: Provided, That a member so appointed shall serve only for the unexpired term.