The commission, on approval of a majority of its membership and consistent with state law, shall adopt and amend bylaws governing proceedings and other activities, including provisions concerning

1. (1) a quorum to transact commission business and other aspects of procedure;
2. (2) frequency and location of meetings;
3. (3) establishment, functions, and membership of committees; and

4. (4) conflicts of interest that require

   1. (A) a member to declare a substantial financial interest in an official action and to request to be excused from voting in that instance;
   2. (B) a ruling by the chair on a request by a member to be excused from voting;
   3. (C) an opportunity to override a ruling by the chair on a majority vote;
   4. (D) filing of a written disclosure form with the department that lists all potential conflicts of interest of a member valued at more than $5,000 annually if the interest is related to health care system income affecting the member or a member of the member's immediate family.