(1) The board shall annually elect a chair and a vice chair from the appointed members of the board. Officers of the board shall serve for terms of one (1) year and until a successor is elected, as long as the officer holds a current appointment to the board.
(2) The board shall hold at least two (2) regular meetings annually and additional meetings as the board may deem necessary. The additional meetings may be held upon call of the chair or upon written request of three (3) members of the board.
(3) Five (5) members of the board shall constitute a quorum to conduct business.
(4) The board may employ its own executive director and staff, or employ or contract with any other persons it deems necessary to carry on the work of the board and shall define their duties and fix their compensation. Should the board prefer not to directly employ or contract with persons to serve as its executive director or staff, the board may enter into a contract with another state agency in which the board shall pay to the agency a sum sufficient to offset that agency's costs in the salary and benefits of one (1) or more employees who will be assigned to serve the board as its executive director and staff.