The board of directors of the corporation shall consist of seven members, selected and appointed as follows:
(a)
One member, representing the public interest, for a term of four years, appointed by the Governor.
(b)
One member, for a term of four years, appointed by the State Treasurer.
(c)
One member, representing the solar energy industry, for a term of three years, appointed by the Secretary of the Business, Transportation and Housing Agency.
(d)
Four members, for terms of two years, elected by the stockholders of the corporation.