(1) There is created the Oregon Racing Commission to consist of five commissioners who shall be citizens, residents and electors of this state.

(2) Upon the expiration of the term of any member the Governor shall appoint a successor for a term of four calendar years and until the successor is appointed and qualified.

(3) All appointments of members of the commission by the Governor are subject to confirmation by the Senate pursuant to section 4, Article III, Oregon Constitution. [Amended by 1973 c.792 § 16; 1981 c.544 § 13]