(a) The company shall initially be governed by a provisional board of directors consisting of five directors. The provisional board shall act as the incorporators of the company and shall prepare and file articles of incorporation and bylaws in accordance with the provisions of this article and all of the provisions of this code. The provisional board of directors shall be appointed as follows:
(1) The chair shall be appointed by the Governor. The chair shall be an individual with at least five years experience as a CEO and board member of a mutual insurance company.