(a) (1) In December each year, the Board of Regents shall elect from among the members of the Board of Regents:

(i) A chairperson; and

(ii) Any other officer it requires.

(2) (i) Except as provided in subparagraph (ii) of this paragraph, the member elected as chairperson shall serve in that position subject to the advice and consent of the Senate.

(ii) A chairperson who has been confirmed by the Senate is not subject again to the advice and consent of the Senate during the period of continuous service as chairperson.

(b) (1) (i) Subject to subparagraphs (ii) and (iii) of this paragraph, the Board shall determine the time and place of its meetings and may adopt rules for the conduct of its meetings.

(ii) The Board shall make available to the public live and archived video streaming of each open meeting and shall allow time at each open meeting for public comment.

(iii) The Board shall include all motions and vote tallies from open and closed sessions in publicly available Board meeting minutes.

(2) The Governor, the State Treasurer, and the State Comptroller shall be notified of all meetings of the Board and may sit with the Board at any meeting.

(3) The Secretary of Budget and Management, the Chairmen of the Senate Finance and Budget and Taxation Committees, and the Chairmen of the House Ways and Means and Appropriations Committees shall be invited to sit with the Board at any meetings of the Board at which requests for appropriations are prepared.

(4) A majority of the voting members shall constitute a quorum for the transaction of business.

(5) No formal action may be taken by the Board without the approval of a majority of the voting members of the Board.

(6) (i) Of the two student members, only one member shall be a voting member of the Board each year.

(ii) A student member shall be a voting member of the Board for only 1 year of a 2-year term.