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(a) There is hereby established the Small Businessman of the Year Award to be awarded to a client of the Small Business Development Agency who has demonstrated good business practices over a period of three years and who has been proficient and dynamic in the development of his small business concern.
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(b) The recipient of the Award shall be chosen annually by majority vote of the Loan Policy Board from a list of three candidates submitted to said Board by the Director; Provided, however, That the Board may choose not to confer said Award in a particular year for reasons which it deems good and appropriate.
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(c) The Small Business Development Agency is authorized to award an appropriate plaque to the Small Businessman of the Year at an appropriate ceremony held for that purpose.