The compact committee shall have the following voting requirements:
(1) each official shall be entitled to one vote on the compact committee;
(2) a majority vote of the total number of officials on the compact committee shall be required to:
(i) admit another party state;
(ii) issue or renew a racing license; and
(iii) receive or distribute any funds;
(3) a two-thirds majority vote of the total number of officials on the compact committee shall be required to adopt, amend, or rescind the bylaws;
(4) all other actions by the compact committee shall require a majority vote of those officials who are present for the vote; and
(5) no action may be taken by the compact committee unless a quorum of the officials on the compact committee is present for the vote.