(1) The Consumers' Advisory Council shall be attached for administrative purposes to the Department of Law, with such duties and responsibilities to act in an advisory capacity on consumer affairs as the council deems necessary and as directed by the Governor, the Attorney General or the legislative branch of government.
(2) The Consumers' Advisory Council shall meet at least four (4) times each year at such times and places as shall be designated by its chairman, and shall hold such other meetings as shall be called by the chairman. Seven (7) members of the council shall constitute a quorum. The members of the council shall receive twenty-five dollars ($25) per day for attending each meeting and shall receive their reasonable and necessary expenses in connection with the performance of their duties, to be paid out of sums appropriated to the Department of Law.
(3) The Consumers' Advisory Council shall prepare and publish annually a report on the state of consumer affairs in Kentucky.