Ill. Admin. Code tit. 47 § 700.213
In its discretion, the Board of Directors may appoint an Executive Committee and one or more other committees, which, to the extent of the authority conferred by the resolutions appointing them, may exercise any of the powers of the Board of Directors, including the power to authorize the seal of the Corporation to be affixed to all papers which may require it. In its discretion, the Board of Directors may appoint one or more Officer Committees which the Board deems necessary or appropriate for the prudent management and oversight of the Corporation, which, to the extent of the authority conferred by the resolutions appointing them, shall have and may exercise any of the powers of the Board of Directors. Unless the Board of Directors provides otherwise in the resolutions appointing any such committee, a committee of two members may act only by unanimous vote of such members, any such committee composed of more than two members may act by the vote of a majority of its members, and any such committee may fix the time and place of its meetings. The Board of Directors must ratify any action of any committee. The Board of Directors shall have power at any time to fill vacancies in, to change the membership of, or to dissolve any such committee.
Ill. Admin. Code tit. 47, § 700.213