The board shall establish an advisory panel to review and advise the board on proposed prescriptive rules and other regulations governing the prescriptive authority for psychologists, including any formulary or limited formulary, and also including the sufficiency of education and training for an applicant seeking certification by endorsement. If requested by the board, the panel may be consulted on complaints against psychologists with prescriptive authority. The panel shall consist of a psychiatrist and a pediatric psychiatrist or a pediatrician recommended by the Idaho state board of medicine, a pharmacist holding a doctoral-level degree recommended by the Idaho state board of pharmacy, and two (2) psychologists licensed in Idaho. The board shall not promulgate rules governing prescriptive authority, governing collaboration or supervision of prescribing psychologists, establishing a formulary or establishing standards for granting certification by endorsement, unless the rules first have been approved by a majority vote of the advisory panel.