There is created a body corporate and politic to be known as the Georgia Building Authority (Hospital) which shall be deemed to be an instrumentality of the state and a public corporation; and by that name, style, and title such body may contract and be contracted with, bring and defend actions, implead and be impleaded, and complain and defend in all courts. The authority shall consist of the Governor, the state auditor, the Lieutenant Governor, the Commissioner of Agriculture, and an appointee of the Governor who is not the Attorney General. The authority shall elect one of its members as chairman and another as vice-chairman and shall elect a secretary-treasurer who need not be a member of the authority. Three members of the authority shall constitute a quorum. No vacancy on the authority shall impair the right of the quorum to exercise all the rights and perform all the duties of the authority. The members of the authority shall not be entitled to compensation for their services but shall be reimbursed for their actual expenses necessarily incurred in the performance of their duties. The authority shall make necessary rules and regulations for its own governance. It shall have perpetual existence. The authority is assigned to the Department of Administrative Services for administrative purposes only as prescribed in Code Section 50-4-3.