Ted Wheeler
State Treasurer
Salem
Serves by position; Chair

Richard N. Bader
EasyStreet Online Services
Beaverton
Term(s) 02/10/2004 - 02/09/2007
             02/10/2007 - 02/09/2010
             02/10/2010 - 02/09/2013

Les Fahey
Fahey Ventures LLC
Portland
Term(s) 07/15/2009 – 7/14/2012

Art Hill
Blue Mountain Community College
Pendleton
Term(s) 09/15/2010 – 09/14/2013

Kanth C. Gopalpur
Monsoon, Inc
Portland
Term(s) 06/01/2008 – 05/31/2011

Timothy Phillips
Phillips & Company Securities Inc.
Portland
Term(s) 07/17/2006 – 07/16/2009
            07/17/2009 – 07/16/2012

Steve L. Vincent
Avista Corp.
Medford
Term(s) 08/01/2003 - 07/31/2006
            08/01/2006 – 07/31/2009
            08/01/2009 – 07/31/2012

348.707 Oregon Growth Account Board; members; terms; compensation; powers and duties. (1) There is established an Oregon Growth Account Board consisting of:

(a) The State Treasurer or the treasurer’s designated representative, who shall be the chairperson of the board.

(b) Three members appointed by the Governor from a list of candidates recommended by the State Treasurer who are qualified by training and experience in the field of venture capital and emerging growth businesses in Oregon.

(c) Three members from the general public appointed by the Governor from a list of candidates recommended by the State Treasurer.

(d) One member appointed by the Governor from a list of candidates recommended by the State Housing Council established by ORS 456.567.

(2) The term of office of each board member appointed by the Governor is three years. However, each member, except the State Treasurer or the treasurer’s designated representative, shall serve at the pleasure of the Governor. Before the expiration of the term of a member, the Governor shall appoint a successor. A member is eligible for reappointment. If there is a vacancy for any cause, the Governor shall make an appointment to become immediately effective for the unexpired term.

(3) A member of the board may receive reimbursement of expenses under ORS 292.495 (2), but shall not receive compensation under ORS 292.495 (1) or otherwise for participation as a board member.

(4) The board shall have authority to approve or direct specific investments or strategies for the investment of moneys in the Oregon Growth Account, subject to investment policies established for moneys in the account by the State Treasurer, and the board shall exercise the care, skill and diligence that a prudent investor acting in a similar capacity and familiar with such investments would use in managing and investing a similar account.

(5) The State Treasurer shall report on the development of the policies described in subsection (4) of this section to the legislative interim committees on trade and economic development and government finance and tax policy. [1997 c.323 s.3]