5 U.S.C. § 8476 — Administrative provisions

(a) The Board^* must meet: (1) at least once each month; and (2) at additional times when the Chairman calls a meeting.

(b)(1) Except as sections 8472(g)(1)(C) and 8474(a)(1) of this title provide, the Board carries out its functions and powers by a majority vote of a quorum.
(2) A vacancy on the Board does not stop a quorum of the Board from carrying out the Board's functions and powers.

(c) Three members of the Board make up a quorum for transacting business.

(d)(1) Each Board member^* who is not a federal officer or employee^* is paid, for each day spent performing a Board function, the daily rate of basic pay^* for level IV of the Executive Schedule.
(2) A Board member is paid travel, per diem, and other necessary expenses under subchapter I of chapter 57 of this title while traveling away from home or the member's regular place of business to do Board work.
(3) These payments come out of the Thrift Savings Fund^*.

(e) The accrued annual leave of an employee who is a member of the Board or the Council^* is not charged for time used performing services for the Board or the Council.