Sec. 2. The department shall adopt, under IC 4-22-2, a procedure whereby a committed delinquent offender may be released on parole before the time when he must be unconditionally discharged from his commitment. The procedure must be consistent with this chapter and include:
(1) the time when an offender is eligible for consideration for initial release or reinstatement on parole;
(2) a method for determining an offender's suitability for release on parole, including information or criteria considered relevant to that determination;
(3) parole conditions that may be imposed by the department to assist the offender in his reintegration into the community; and
(4) a method for determining whether an offender has violated a condition of his parole, and the sanctions that may be imposed if a violation is found.