§ 3054. Administration of the corporation. The corporation shall be
administered by a board of directors, consisting of seven directors,
none of whom shall be officers or employees of the federal government or
of the state or political subdivisions thereof. Five of the directors
shall be appointed by the governor. One of the directors shall be
appointed by the majority leader of the senate and one of the directors
shall be appointed by the speaker of the assembly. Each of the members
of the board of directors shall serve at the pleasure of the appointed
official. Directors of the corporation may also be members of the
supervisory board created for the city of Troy pursuant to section ten
of chapter seven hundred twenty-one of the laws of nineteen hundred
ninety-four, as amended from time to time. The corporation shall have
the power to make and execute contracts to pay the expenses of operation
of the supervisory board for the city of Troy, within the appropriation
available therefor.