(1) The board shall meet at least twice annually and may meet at such other times as necessary to complete the business required. A majority of the member s of the board shall constitute a quorum for the transaction of business. (2) The board may employ an executive secretary and such clerical or other assistants as are necessary for the performance of its work and may make expenditures of its funds for any purpose which in the opinion of the board is necessary for proper performance of its duties, including compensation of the executive secretary and the premium on his or her bond. (3) The executive secretary or any other person so designated by the board sh all give bond to the state in such sum as determined by the board, to be approved by the State Treasurer for the faithful performance of his or her duties. The executive secretary shall receive and account for all moneys derived under this chapter and shall pay such moneys to the State Treasurer who shall maintain them in the manner provided for other such agencies and boards of the Commonwealth.
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