The Board shall:
1. Hold meetings at least once a year and at any other time at the request of the President or the majority of the members;
2. Have and use a common seal;
3. Deposit in interest-bearing accounts in the State of Nevada all money received under the provisions of this chapter, which must be used to defray the expenses of the Board;
4. Operate on the basis of the fiscal year beginning July 1 and ending June 30; and
5. Keep a record of its proceedings which must be open to the public at all times and which must contain the name and business address of every registered licensee in this State.