The commission, on approval of a majority of its membership and consistent with state law, shall adopt and amend bylaws governing proceedings and other activities, including provisions concerning
(1) a quorum to transact commission business and other aspects of procedure;
(2) frequency and location of meetings;
(3) establishment, functions, and membership of committees; and
(4) conflicts of interest that require
(A) a member to declare a substantial financial interest in an official action and to request to be excused from voting in that instance;
(B) a ruling by the chair on a request by a member to be excused from voting;
(C) an opportunity to override a ruling by the chair on a majority vote;
(D) filing of a written disclosure form with the department that lists all potential conflicts of interest of a member valued at more than $5,000 annually if the interest is related to health care system income affecting the member or a member of the member's immediate family.