; and (C) 2 shall be appointed for a term of 2 years. (e) Congressional recommendations Not later than 30 days after the date of enactment of this Act, the majority leader of the Senate, the minority leader of the Senate, the Speaker of the House of Representatives, and the minority leader of the House of Representatives shall each submit a recommendation to the President for appointment of a member of the Board of Directors, after consultation with the appropriate committees of Congress. (f) Date of initial nominations The initial nominations by the President for appointment of directors to the Board shall be made not later than 60 days after the date of enactment of this Act. (g) Vacancies (1) In general A vacancy on the Board shall be filled in the manner in which the original appointment was made. (2) Appointment to replace during term Any director appointed to fill a vacancy occurring before the expiration of the term for which the director’s predecessor was appointed shall be appointed only for the remainder of the term. (3) Duration A director may serve after the expiration of that director’s term until a successor has taken office. (h) Quorum Four directors shall constitute a quorum. (i) Reappointment A director of the Board appointed by the President may be reappointed by the President in accordance with this section. (j) Per diem reimbursement Directors of the Board shall serve on a part-time basis and shall receive a per diem when engaged in the actual performance of Bank business, plus reasonable reimbursement for travel, subsistence, and other necessary expenses incurred in the performance of their duties. (k) Limitations A director of the Board may not participate in any review or decision affecting a project under consideration for assistance under this Act if the director has or is affiliated with a person who has an interest in such project. (l) Responsibilities The Board shall— (1) as soon as is practicable after the date on which the last director is appointed, establish an Executive Committee,