A majority of the voting members shall constitute a quorum for: the transaction of any business; or the exercise of any power or the performance of any duty authorized or imposed by law. Formal action may not be taken by the Board without the approval of a majority of the voting members of the Board. The Board shall set the times and places of its meetings, but shall meet at least once per month. An appointed member of the Board is entitled to: the compensation provided in the State budget; and reimbursement for expenses under the Standard State Travel Regulations as provided in the State budget. The chair of the Board shall give full time to the duties of chair and is entitled to a salary as provided in the State budget.