(a) (1) A majority of the voting members shall constitute a quorum for:
(i) the transaction of any business; or
(ii) the exercise of any power or the performance of any duty authorized or imposed by law.
(2) No formal action may be taken by the Board without the approval of a majority of the voting members of the Board.
(b) The Board shall set the times and places of its meetings.
(c) A member of the Board is entitled to:
(1) the compensation provided in the State budget; and
(2) reimbursement for expenses under the Standard State Travel Regulations, as provided in the State budget.