(a) The oversight committee shall hold at least one public meeting each quarter of the calendar year, with appropriate notice and a formal public comment period.
(b) The oversight committee may conduct a closed meeting in accordance with Subchapter E, Chapter 551, Government Code, to discuss issues related to:
(1) managing, acquiring, or selling securities or other revenue-sharing obligations realized under the standards established as required by Section 101A.305; and
(2) an ongoing compliance investigation into issues related to fraud, waste, or abuse of state resources.