(1) The commissioners shall convene regular monthly meetings and shall remain in session until all business before them is disposed of, and shall hold other sessions at such times and places as may be necessary for the proper discharge of their duties. If the business of the commission does not require a monthly meeting, a majority of the commissioners may waive the requirement of a meeting.
(2) All decisions of the Tennessee public utility commission pertaining to dispositions to or from any deferred revenue account shall be made in a public meeting of the commission. The attorney general and reporter and any other interested party shall be given adequate notice of the meeting and shall be given the opportunity to present oral and written testimony. As used in this section, “deferred revenue account” means any account created for the excess earnings from utilities regulated by the Tennessee public utility commission.