1. (1) The board shall hold its first meeting within six weeks after all of the board members are appointed and shall meet at least every six weeks thereafter to review prescription drugs; except that the chair may cancel or postpone a meeting if the board has no prescription drugs to review or for good cause.
2. (2) The board is a state public body for purposes of section 24-6-402, and the board's meetings and the meetings of ad hoc work groups of the board are public meetings.

3. (3) The board shall meet in executive session to discuss proprietary information. The board and any board members, officers, directors, employees, contractors, and agents shall not disclose or otherwise make available to the public any materials or information containing trade-secret, confidential, or proprietary data that is not otherwise available to the public. Electronic recordings of such executive sessions are not permitted if they would result in the disclosure of any materials or information containing trade-secret, confidential, or proprietary data, and in no case shall minutes from such executive sessions disclose or include materials or information containing trade-secret, confidential, or proprietary data. The board shall not take any of the following actions while meeting in executive session:

   1. (a) Deliberations concerning whether to subject a prescription drug to an affordability review as described in section 10-16-1406;
   2. (b) Votes concerning whether to establish an upper payment limit on a prescription drug; or
   3. (c) Any final decision of the board.

Source: L. 2021: Entire part added, (SB 21-175), ch. 240, p. 1262, § 2, effective June 16. L. 2023: (1) amended, (HB 23-1225), ch. 162, p. 705, § 3, effective August 7.