Is the Council of Elrond a One-off Event?

We know that Elrond has councillors, of whom Erestor is the chief, which suggests (without quite proving it) that Elrond also has a Council which perhaps meets bi-weekly to discuss the latest plumbing arrangements and so on. So are we meant to understand "The Council of Elrond" as an ongoing thing which, on this particular day, just happens to have a one-item agenda? And does it matter? It certainly explains why Elrond chairs the meeting - because that's what he always does.
 
That is an interesting idea. I had always thought of his councilors are people he consulted with during key events or as sounding boards when a decision had to be made. I had never thought of it as an ongoing council. Wouldn't the reason Elrond chairs the meeting is that it is his house and domain?
 
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