; (B) at least quarterly after the date described in subparagraph (A); and (C) at the call of the Chairperson or 3 voting members of the Board of Directors. (3) Exception for closed meetings (A) In general The voting members of the Board of Directors may, by majority vote, close a meeting to the public if, during the meeting to be closed, there is likely to be disclosed proprietary or sensitive information regarding an eligible infrastructure project under consideration for assistance under this Act. (B) Availability of minutes The Board of Directors shall prepare minutes of any meeting that is closed to the public, which minutes shall be made available as soon as practicable, but not later than 1 year after the date of the closed meeting, with any necessary redactions to protect any proprietary or sensitive information. (4) Quorum For purposes of meetings of the Board of Directors, 5 voting members of the Board of Directors shall constitute a quorum. (f) Compensation of members Each voting member of the Board of Directors shall be compensated at a rate equal to the daily equivalent of the annual rate of basic pay prescribed for level III of the Executive Schedule under section 5314 of title 5, United States Code, for each day (including travel time) during which the member is engaged in the performance of the duties of the Board of Directors. (g) Conflicts of interest A voting member of the Board of Directors may not participate in any review or decision affecting an eligible infrastructure project under consideration for assistance under this Act, if the member has or is affiliated with an entity who has a financial interest in that project. 103. Chief Executive Officer (a) In general The Chief Executive Officer shall— (1) be a nonvoting member of the Board of Directors; (2) be responsible for all activities of IFA