Section 592-701-7 - DELEGATION OF APPLICATION REVIEW TO SUBCOMMITTEEA. Affirmative action by the Board is necessary to delegate to a subcommittee authority to review applications or authority to negotiate and agree to terms of an approved investment within designated parameters set by the Board.B. Each subcommittee shall be composed of 1 or more members.C. Each decision of a subcommittee must be approved by a majority of all members of the subcommittee.D. Subcommittees may meet and take action by means of teleconference.95-592 C.M.R. ch. 701, § 7