(a)

1. (1) The Arkansas Association of Fire Chiefs, the Arkansas Professional Fire Fighters Association, and the Arkansas State Firefighters Association shall establish a board to set or establish eligibility and award amount requirements for funds received which are to be distributed in this program.
2. (2) This board shall be named the “Arkansas Firefighter Cancer Relief Fund Board” (hereafter, the “board”).

(b) The board shall:

1. (1)

   1. (A) Consist of seven (7) persons appointed by the Governor from the three (3) associations.
   2. (B) Each member shall serve two-year terms;

2. (2)

   1. (A) Meet biannually at such times and dates as determined by the board.
   2. (B) Board meetings shall be conducted at the State Insurance Department;
3. (3) Elect a chairperson to preside over the board for a two-year term; and
4. (4) Hold its first meeting within thirty (30) days following the approval by the Governor of all of the nominated board members.