(a) Each trustee is entitled to one vote on the Board of Trustees.
(b) A majority of the trustees then serving on the Board of Trustees is a quorum for:
(1) the transaction of any business;
(2) the exercise of any power; or
(3) the performance of any duty authorized or imposed by law.
(c) The Board of Trustees shall set the times and places of its meetings.
(d) A trustee:
(1) may not receive compensation from the several systems for service as a trustee; but
(2) is entitled to reimbursement for expenses under the Standard State Travel Regulations, as provided in the State budget.