The Board shall:
1. Require each new member of the Board to complete orientation within 60 days after his or her appointment to the Board. The orientation must include, without limitation, instruction concerning:
(a) The purposes of the Board and the duties of its members;
(b) Applicable laws and regulations, including, without limitation, the provisions of NRS 641C.700 to 641C.760, inclusive, and the importance of complying with applicable laws and regulations in a timely manner; and
(c) Requirements concerning managing the finances of the Board.
2. Establish policies concerning compensation and reviewing the performance of the staff of the Board.