(a) The oversight committee shall elect a presiding officer and assistant presiding officer from among its members every two years. The oversight committee may elect additional officers from among its members.
(b) The presiding officer and assistant presiding officer may not serve in the position to which the officer was elected for two consecutive terms.
(c) The oversight committee shall:
(1) establish and approve duties and responsibilities for officers of the committee; and
(2) develop and implement policies that distinguish the responsibilities of the oversight committee and the committee's officers from the responsibilities of the chief executive officer and the employees of the institute.