The Harry M. Zweig memorial fund for equine research committee is established for the purpose of administering the funds. The committee shall consist of not less than nine and not more than fifteen members including but not limited to:
The committee as so constituted pursuant to rules and regulations of the commission is hereby continued, and shall establish its own by-laws which will include a system for electing its own officers and for perpetuating its membership, providing for the terms of its members, their replacement and succession, and such other administrative details as it deems necessary to effectuate the purposes of this article. The commission shall review such by-laws and amendments thereto prior to their implementation.
N.Y. Rac. Pari-Mut. Wag. and Breed. Law § 702