The Liquor Control Board shall meet as often as necessary for the public business. The chair of the Liquor Control Board shall receive an annual salary of $6,000. The other members of the Liquor Control Board shall receive an annual salary of $5,000. The Liquor Control Board shall appoint employees necessary to operate the dispensary system, set employee compensation, and require a bond for the faithful performance of employee duties. An employee of the Liquor Control Board may not: have a direct or indirect financial interest in the manufacture or sale of alcoholic beverages; or derive profit or remuneration from the sale of alcoholic beverages other than the salary or wages payable for the discharge of the duties of the office. A person who violates this paragraph is guilty of a misdemeanor and on conviction is subject to imprisonment not exceeding 3 years or a fine not exceeding $2,000 or both.