(a) There is created a Virgin Islands Economic Development Commission. Such Commission shall be within, and shall constitute a subsidiary entity wholly administered and operated by the Economic Development Authority established in chapter 21 of title 29, Virgin Islands Code.
(b) The Commission shall be composed of the members of the Economic Development Authority established in chapter 21 of title 29, Virgin Islands Code.
(c) The Commission members shall meet and organize, electing a Chairman, Vice Chairman and such other officers as may be deemed appropriate from among its members at the beginning of each calendar year.
(d) Persons appointed to fill vacancies on the Commission shall serve only the remainder of the term of the member replaced, which remainder shall not be considered a full term for the purpose of this subchapter.
(e) The Director, appointed pursuant to section 705 of this subchapter, shall serve, ex-officio, as Executive Secretary of the Commission.
(f) Non-government appointed members of the Commission shall receive compensation of $150.00 per day while attending Commission meetings, plus necessary travel expenses incurred thereby.
(g) The Commission shall meet as required at the discretion and call of the Chairman on his own motion, or at the request of the Director with the concurrence of the Chairman or two Non-government appointed Commission members. The Commission may also establish and publish through appropriate communication channels a calendar of regular meetings for each calendar year.
(h) A quorum for the transaction of Commission business shall be four (4) members, not more than three (3) of whom shall be from the same district.
(i) This chapter does not prohibit the Commission from holding an open or closed meeting during which members of the Commission attend by telephone or video conference call or other means permitting their participation remotely if:
(1) The meeting conforms with the notice requirements applicable to other meetings;
(2) The notice of the meeting specifies the location of the meeting or the location where meetings of the Commission are usually held; and
(3) Each part of the meeting that is required to be open to the public is audible to the public at the location specified in the notice of the meeting.