(1) There is established within the Department of Legal Affairs the Florida Motor Vehicle Theft Prevention Authority, which shall exercise its powers, duties, and responsibilities independently of the department. The purposes, powers, and duties of the authority shall be vested in and exercised by a board of directors. There shall be nine members of the board, consisting of the Chief Financial Officer or his or her designee; the executive director of the Department of Highway Safety and Motor Vehicles; the executive director of the Department of Law Enforcement; six additional members, each of whom shall be appointed by the Attorney General: a state attorney or city or county executive, a chief executive law enforcement official, a sheriff, one representative of companies authorized to sell motor vehicle insurance, one representative of insurers authorized to write motor vehicle insurance in this state, and one representative of purchasers of motor vehicle insurance in this state who is not employed by or connected with the business of insurance.
(2) The Attorney General shall designate the chair of the board from the membership annually. All members of the board appointed by the Attorney General shall serve at the discretion of the Attorney General for a term not to exceed 2 years. The initial appointed members of the board shall serve from October 1, 1992, until October 1, 1994, or until their successors are appointed. The board shall meet at least quarterly.
(3) A majority of the members of the board shall constitute a quorum for the transaction of business at a meeting or the exercise of a power or function of the authority, notwithstanding the existence of one or more vacancies on the board.