Section 14-103 - Officers; meetings(a) Each year the Board of Regents: (1) Shall elect one of its nonstudent members as its chairman; and(2) May elect any other officer it requires.(b) The Board of Regents shall determine the time and place of its meetings and may adopt rules for the conduct of its meetings.(c)(1) A majority of the voting members shall constitute a quorum for the transaction of business.(2) No formal action may be taken by the Board of Regents without the approval of a majority of the voting members of the Board of Regents.