12 U.S.C. § 3333 — Chairperson of Appraisal Subcommittee; term of Chairperson; meetings

(a) Chairperson^* The Council^* must select the Chairperson of the subcommittee^*. The term of the Chairperson must be 2 years. (b) Meetings; quorum; voting The Appraisal Subcommittee^* must meet in public session after notice in the Federal Register, but may close certain portions of these meetings related to personnel and review of preliminary State^* audit reports, at the call of the Chairperson or a majority of its members when there is business to be conducted. A majority of members of the Appraisal Subcommittee must constitute a quorum but 2 or more members may hold hearings. Decisions of the Appraisal Subcommittee must be made by the vote of a majority of its members. The subject matter discussed in any closed or executive session must be described in the Federal Register notice of the meeting.