Colorado Revised Statutes Title 10. Insurance § 10-16-1402. Colorado prescription drug affordability review board--created--membership--terms--conflicts of interest

(2)(a) The board consists of five members, who must each have an advanced degree and experience or expertise in health-care economics or clinical medicine.

(b) The governor shall appoint each board member, subject to confirmation by the senate. All of the initial members of the board must be appointed by October 1, 2021.

(c) The term of office of each board member is three years;  except that, as to the terms of the members who are first appointed to the board, two such members shall serve three-year initial terms, two such members shall serve two-year initial terms, and one such member shall serve a one-year initial term, to be determined by the governor. The governor may remove any appointed member of the board for malfeasance in office, for failure to regularly attend meetings, or for any cause that renders the member incapable or unfit to discharge the duties of the member's office, and any such removal is not subject to review.

(d) The governor shall designate one member of the board to serve as the chair. A majority of the board constitutes a quorum. The concurrence of a majority of the board in any matter within its powers and duties is required for any determination made by the board.

(3)(a) An individual who is being considered for appointment to the board shall disclose any conflict of interest to the individual's potential appointing authority. When appointing a member of the board, an appointing authority shall consider any conflict of interest disclosed by the prospective member.

(b) A board member must not be an employee, board member, or consultant of:

(c) Board members, staff members, and contractors of the division, on behalf of the board, shall recuse themselves from any board activity in any case in which they have a conflict of interest.

(d) On and after January 1, 2022, the division shall maintain a page on its public website for the board to use for its purposes. The board shall disclose on the page each conflict of interest that is disclosed to the board pursuant to subsection (3)(c) of this section and section 10-16-1409(5)(b).

(e) Board members, staff members, contractors of the division, on behalf of the board, and immediate family members of board members, staff members, or contractors shall not accept a financial benefit or gifts, bequests, or donations of services or property that suggest a conflict of interest or have the appearance of creating bias in the work of the board.