There is hereby created "The Connecticut River Valley Flood Control Commission," hereinafter referred to as the "Commission," which shall consist of 12 members, three of whom shall be residents of the Commonwealth of Massachusetts; three of whom shall be residents of the State of Connecticut; three of whom shall be residents of the State of New Hampshire; and three of whom shall be residents of the State of Vermont.

The members of the Commission shall be chosen by their respective states in such manner and for such term as may be fixed and determined from time to time by the law of each of said states respectively by which they are appointed. A member of the Commission may be removed or suspended from office as provided by the law of the state for which he or she shall be appointed, and any vacancy occurring in the Commission shall be filled in accordance with the laws of the state wherein such vacancy exists.

A majority of the members from each state shall constitute a quorum for the transaction of business, the exercise of any of its powers or the performance of any of its duties, but no action of the Commission shall be binding unless at least two of the members from each state shall vote in favor thereof.

The compensation of members of the Commission shall be fixed, determined, and paid by the state which they respectively represent. All necessary expenses incurred in the performance of their duties shall be paid from the funds of the Commission.

The Commission shall elect from its members a Chair, Vice Chair, Clerk and Treasurer. Such treasurer shall furnish to the Commission, at its expense, a bond with corporate surety, to be approved by the Commission, in such amount as the Commission may determine, conditioned for the faithful performance of his or her duties.

The Commission shall adopt suitable bylaws and shall make such rules and regulations as it may deem advisable not inconsistent with laws of the United States, of the signatory states or with any rules or regulations lawfully promulgated thereunder.

The Commission shall make an annual report to the governor and legislature of each of the signatory states, setting forth in detail the operations and transactions conducted by it pursuant to this compact.

The Commission shall keep a record of all its meetings and proceedings, contracts and accounts, and shall maintain a suitable office, where its maps, plans, documents, records and accounts shall be kept, subject to public inspection at such times and under such regulations as the Commission shall determine.