(1) A majority of the members of the commission constitutes a quorum for the transaction of business and for performing the duties of the commission. A member shall receive a per diem rate to be established by the commission on an annual basis which shall not exceed the rate allowed by law to state officers for each day spent in actual attendance at meetings of the commission, and traveling and other expenses incurred in connection with the business of the commission at the rate allowed by law to state officers, but shall not receive any other compensation or salary.

  (2) The business which the commission may perform shall be conducted at a public meeting of the commission held in compliance with Act No. 267 of the Public Acts of 1976, as amended, being section 15.261 to 15.275 of the Michigan Compiled Laws. Public notice of the time, date, and place of the meeting shall be given in the manner required by Act No. 267 of the Public Acts of 1976, as amended.