Section 4. (a) The members shall elect a chairperson and chief executive officer of the commission who shall be one of the public members of the commission. The commission shall by rule determine the term of office of the chairperson and chief executive officer. The members shall elect a secretary and a treasurer who need not be members of the commission and the same person may be elected to serve as both secretary and treasurer.

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(b) The powers of the commission shall be vested in its members in office from time to time and seven members of the commission shall constitute a quorum at any meeting. Actions may be taken and motions and resolutions adopted by the commission at any meeting by the affirmative vote of at least seven members of the commission. A vacancy in the membership of the commission shall not impair the right of a quorum to exercise all the powers and perform all the duties of the commission.

(c) The members of the commission shall serve without compensation, but the commission shall reimburse its members for the reasonable expenses incurred in the performance of their duties based upon the monies available in the fund.

(d) The commission shall be appointed not later than November 1, 2000 and shall organize as soon as may be practicable after the appointment of its members.