(a) A standing committee of the Legislature is created, to be officially known as the Legislature's Committee on Interstate Cooperation. The Committee shall consist of five members, including its chairman. The members shall be elected by the Legislature, which shall designate the member to serve as chairman. In addition to the regular members, the President of the Legislature shall be ex officio an honorary nonvoting member of this committee.
(b) The standing committee referred to in subsection (a) of this section shall function during the regular sessions of the Legislature and also during the interim periods between such sessions. Its members shall serve until their successors are qualified, and such committee shall constitute for the Virgin Islands the Legislature Council of the American Legislators' Association.