ESTABLISHMENT OF RECOVERY INDEPENDENT ADVISORY PANEL.

SEC. 1541. ESTABLISHMENT OF RECOVERY INDEPENDENT ADVISORY PANEL.(a) Establishment.—There is established the Recovery Independent Advisory Panel.(b) Membership.—The Panel shall be composed of 5 members who shall be appointed by the President.(c) Qualifications.—Members shall be appointed on the basis of expertise in economics, public finance, contracting, accounting, or any other relevant field.(d) Initial Meeting.—Not later than 30 days after the date on which all members of the Panel have been appointed, the Panel shall hold its first meeting.(e) Meetings.—The Panel shall meet at the call of the Chairperson of the Panel.(f) Quorum.—A majority of the members of the Panel shall constitute a quorum, but a lesser number of members may hold hearings.(g) Chairperson and Vice Chairperson.—The Panel shall select a Chairperson and Vice Chairperson from among its members.