The Board shall:

1. (a) Annually elect a chairman and such other officers as it may deem necessary;
2. (b) Hold at least one regular meeting each year and such additional meetings as called by the chairman or upon written request of any two members;
3. (c) Adopt a seal which must be affixed to all licenses issued;
4. (d) Adopt from time to time such rules and regulations as it may deem necessary for the performance of its duties;
5. (e) Make an annual report according to the provisions of Chapter 73 of Title 40, Code of 1976; and

6. (f) Prescribe, pursuant to the Administrative Procedures Act, fees for application for examination, initial license, renewal of license, and late renewal.

   Each member of the Board may receive for his services and expenses such per diem and mileage as is provided by law for members of state boards, commissions, and committees.

   All revenues and income from licenses, examination fees, other fees, sale of commodities and services, and income derived from any board source or activity shall be remitted to the State Treasurer as collected, when practicable, but at least once each week, and shall be credited to the General Fund of the State. All assessments, fees, or licenses shall be levied in an amount sufficient to at least equal the amount appropriated in the annual general appropriation act for the board, plus any additional funds allocated by the Budget and Control Board for implementation of the State's Personnel Compensation Plan.