(1) The Higher Education Coordinating Commission shall select one of its members as chairperson and another as vice chairperson, for such terms and with duties and powers necessary for the performance of the functions of such offices as the commission determines.
(2) A majority of the members of the commission constitutes a quorum for the transaction of business.
(3) Official action by the commission requires the approval of a majority of the members of the commission.
(4) The commission shall meet at least once every three months at a place, day and hour determined by the chairperson. The commission may also meet at other times and places specified by the call of the chairperson or of a majority of the members of the commission.