(a) The Texas Pharmaceutical Initiative Advisory Council is established to advise the board in implementing this chapter and carrying out the duties imposed on the board under this chapter.
(b) The advisory council is composed of:
(1) the executive commissioner of the commission or the executive commissioner's designee;
(2) the executive director of the Employees Retirement System of Texas or the executive director's designee;
(3) the executive director of the Teacher Retirement System of Texas or the executive director's designee;
(4) the chancellor of The University of Texas System or the chancellor's designee; and
(5) the chancellor of The Texas A&M University System or the chancellor's designee.