Section 34:15-138 - Plan of operationa. The board shall create a plan of operation to ensure fair, reasonable, and equitable administration. The plan of operation and any amendments thereto shall become effective upon approval in writing by the board.b. The plan of operation shall constitute the bylaws of the board and shall in addition to the requirements enumerated elsewhere in this act: (1) establish procedures for handling the assets of the board;(2) establish regular places and times for meetings of the board;(3) establish procedures for records to be kept of all financial transactions of the board and its agents;(4) contain such additional provisions as the board may designate necessary or proper for the execution of the powers and duties of the board.