(1) The members of the board shall, as soon as appointed, organize and at least annually thereafter elect from their number a chairman. The board shall hold at least two (2) meetings each year to transact such business as may be necessary to carry out the provisions of this chapter. Four (4) members of the board shall constitute a quorum and special meetings of the board shall be called by the chairman upon written request of any three (3) members; all meetings shall be open to the public.
(2) The members of the board shall be compensated as provided by section 59-509(m), Idaho Code, subject to availability of funds collected under the provisions of this chapter.