(a) There is created a body corporate and politic to be known as the Georgia Medical Center Authority which shall be deemed to be an instrumentality of the State of Georgia and a public corporation; and by that name, style, and title such body may contract and be contracted with, sue and be sued, implead and be impleaded, and complain and defend in all courts of this state.

(b) The authority shall consist of 15 members. Eleven members shall be appointed by the Governor for staggered initial terms of office as follows: four members for two years, and seven members for three years. Two members shall be appointed by the Speaker of the House of Representatives to serve initial terms of office of two years and two members shall be appointed by the President of the Senate to serve initial terms of office of two years. After their initial terms of office, members shall serve for terms of office of four years each. Members shall serve for the terms of office specified and until the appointment and qualification of their respective successors. No person may be appointed as a member of the authority unless that person has been a resident of this state for at least two years and is at least 21 years of age. Any elected or appointed state, county, municipal, or school board official or employee, except members of the board of regents and officials and employees of the legislative or judicial branches of state government, are authorized to be appointed as members of the authority, and any person so appointed is authorized to serve as a member of the authority.

(c) All successors shall be appointed in the same manner as original appointments. Vacancies in office shall be filled in the same manner as original appointments. An appointment to fill a vacancy shall be for the unexpired term. The authority shall elect its own officers. A majority of the membership of the authority constitutes a quorum. No vacancy on the authority shall impair the right of the quorum to exercise all rights and perform all duties of the authority. The authority shall otherwise provide for its own organization and conduct of business according to Robert's_Rules_of Order.

(d) The Governor, after notice and opportunity for hearing, may remove from office any member of the authority for any of the following reasons:

(1) Inability or neglect to perform the duties required of members;

(2) Failure to attend, without prior approval of the chairperson of the authority, four consecutive regularly scheduled meetings of the authority;

(3) Incompetence; or

(4) Dishonest conduct.

(e) The members of the authority shall receive a daily expense allowance and reimbursement for transportation costs as provided for in Code Section 45-7-21; and the members of the authority shall not receive any other compensation for their services as such. (f) The authority shall have perpetual existence. Any change in name or composition of the authority shall in no way affect the vested rights of any person under this chapter or impair the obligations of any contracts existing under this chapter.

(g) The members of the authority shall be accountable in all respects as trustees. The authority shall keep suitable and proper books and records of all receipts, income, and expenditures of every kind and shall submit for inspection all the books, together with the proper statement of the authority's financial position, to the state auditor.