(1) The commission shall meet at least three (3) times each year to conduct its business. Places of future meetings shall be decided by the vote of members at meetings. Written notice shall be given to each member of the time and place of each meeting of the commission at least ten (10) days before the scheduled date of the meetings.
(2) The members of the commission shall elect a chair from among the members to preside at commission meetings.
(3) A majority of the commission shall constitute a quorum. A majority of the members present for a quorum shall be appraiser members.
(4) Each member of the commission shall be entitled to a per diem allowance of fifty dollars ($50.00) for each meeting of the commission at which the member is present and for each day or substantial part of a day actually spent in the conduct of the business of the commission. In addition, members shall receive actual expenses to be paid in accordance with the comprehensive travel regulations promulgated by the commissioner of finance and administration and approved by the attorney general and reporter.
(5) The commission at its organizational meeting shall appoint a subcommittee whose duties will be to work with the state's universities, colleges and junior colleges to implement a statewide educational network of appraisal courses leading to an associate or baccalaureate, or both, of applied science degree in real estate appraisal.