Amends GS 116-6, which provides for legislative election of the 24-member UNC Board of Governors (BOG) to staggered four-year terms. Now provides for 24 appointed members to be appointed to eight-year terms. Now includes eight gubernatorial appointees and sixteen legislative appointees (with eight upon recommendation of the President Pro Tempore of the Senate and eight upon recommendation of the Speaker of the House), and sets forth qualifications of each appointee. Provides for staggering initial appointments between 2023 and 2025, with those appointed in 2023 appointed to only six-year terms. Eliminates requirements relating to procedures for legislative appointments to be selected from a slate of candidates. Maintains that terms begin July 1 of odd-numbered years. Bars serving more than one eight-year term, applicable to appointments made on or after January 1, 2017 (current law limits members to three four-year terms); maintains that partial terms do not count toward this cap. No longer provides for past members to serve as members emeritus, including Governors who later serve as members. Sets forth definitions for "historically black college or university" and "non-doctoral institution," as used in membership qualifications. Makes conforming changes to the caption.  Makes conforming changes to GS 116-6.1 to refer to appointment of BOG members. 

Amends GS 116-7 to prohibit lobbyists and spouses of lobbyists from being BOG members. Regarding vacancies of BOG members legislatively appointed, requires vacancies to be made pursuant to the general procedure for vacancies in legislative appointment pursuant to GS 120-122 (replacing current law that requires the electing chamber to elect a person to fill the vacancy by the adjournment sine die of the next regular NCGA session, and provides for the seat to remain unfilled until such election). Makes technical and conforming changes. Applies to BOG members appointed to a term beginning on or after the date the act becomes law.

Directs BOG members elected before January 1, 2023, to serve their full terms, with any vacancy before that time filled by legislative appointment as provided in GS 120-122 upon recommendation of the Speaker or the President Pro Tempore, as applicable.