(1) The board shall establish the time, date and place for its regular meetings. The chair or a majority of the voting members of the board, by petition, may call special meetings of the board.
(2) A majority of the entire voting membership of the board and not simply a majority of those members present shall be necessary to conduct business.
(3) The members of the board, executive committee or advisory committee, if an advisory committee is appointed, shall serve without compensation, but may be allowed necessary travel and other expenses while engaged in the business of the authority. All reimbursement for travel expenses shall be in accordance with the comprehensive travel regulations as promulgated by the department of finance and administration and approved by the attorney general and reporter.