The Coastal and Watershed Resources Advisory Committee has the duty of advising the Secretary of Natural Resources on all matters referred to the Committee by the Director of the Coastal Zone Management Program. Members may not receive compensation, but shall be reimbursed for necessary expenses incident to their attendance of the meetings of the Committee according to the provisions of the standard travel regulations of the State and within budgetary limitations. The Coastal and Watershed Resources Advisory Committee shall elect annually, at the first meeting after January 1, a chairman, who shall be eligible for reelection in any subsequent year. Meetings shall be held at the call of the chairman or the Director, Coastal Zone Management Program, or, within budgetary limitations, upon petition of a majority of the members, stating the purpose of the meeting. No less than two meetings shall be held in each fiscal year.