1. The Board shall: (a) Elect a President, Vice President, Secretary and Treasurer from its membership; and (b) Meet at least once each year on a date determined by the Board. 2. A majority of the members of the Board constitutes a quorum for the transaction of business of the Board. 3. The Board shall operate on the basis of a fiscal year commencing on July 1 and terminating on June 30.
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