Sec. 11. (a) The governor shall designate:
(1) one (1) of the voting members of the commission as chairman; and
(2) one (1) of the voting members of the commission as treasurer.
(b) The chairman and treasurer serve until:
(1) the governor designates another voting member of the commission as chairman or treasurer, respectively, under subsection (a); or
(2) the term of the member designated as chairman or treasurer, respectively, expires;
whichever occurs first.