§ 252. New York state thoroughbred breeding and development fund. 1. A
corporation to be known as the New York state thoroughbred breeding and
development fund corporation is hereby created. Such corporation shall
be a body corporate and politic constituting a public benefit
corporation. It shall be administered by a board of directors consisting
of the chair of the state gaming commission or his or her designee, the
commissioner of agriculture and markets, three members of the state
gaming commission or their designees, all of whom are experienced, have
knowledge, or have been actively engaged in the thoroughbred horse
industry in the state as designated by the governor and six members
appointed by the governor, all of whom are experienced or have been
actively engaged in the breeding of thoroughbred horses in New York
state, one, the president or the executive director of the statewide
thoroughbred breeders association representing the majority of breeders
of registered thoroughbreds in New York state, one upon the
recommendation of the majority leader of the senate, one upon the
recommendation of the speaker of the assembly, one upon the
recommendation of the minority leader of the senate, and one upon the
recommendation of the minority leader of the assembly. Two of the
appointed members shall initially serve for a two year term, two of the
appointed members shall initially serve for a three year term and two of
the appointed members shall initially serve for a four year term. All
successors appointed members shall serve for a four year term. All
members shall continue in office until their successors have been
appointed and qualified. The governor shall designate the chair from
among the sitting members who shall serve as such at the pleasure of the
governor.

2. The powers of the fund shall be vested in and exercised by the
board at a meeting duly held at a time fixed by any by-law adopted by
the board or at any duly adjourned meeting of such meeting or at any
meeting held upon reasonable notice to all of the directors, and a
majority of the whole number of directors shall constitute a quorum;
provided that neither the business nor the powers of the fund shall be
transacted or exercised except pursuant to a favorable vote of at least
a majority of the directors present at a meeting at which a quorum is in
attendance.

3. The board may delegate to one or more of the directors or officers
of the fund such powers and duties as it may deem proper and shall
utilize, pursuant to a contract approved by the director of the budget,
the service employees of the state gaming commission and the state
office of racing promotion and development.

4. The directors shall not be entitled to any compensation for their
services but shall be entitled to reimbursement for their actual and
necessary expenses incurred in the performance of their official duties.

5. Such members, except as otherwise provided by law, may engage in
private employment, or in a profession or business including the
breeding and racing of thoroughbred horses. The fund, its members,
officers and employees shall be subject to the provisions of sections
seventy-three and seventy-four of the public officers law.