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(a) Subject to the approval of the Governor, the Mediation Service may:

(1) appoint a board of arbitration to settle a dispute; and

(2) provide:

(i) as the Mediation Service considers proper, for compensation of up to $5 for each day that a member of a board is engaged in its duties; and

(ii) for other necessary expenses of a board.

(b) The Chief Mediator may serve on a board.