Records. The board of directors shall establish a time and place for regular meetings, and in addition thereto, shall hold such special meetings as may be required for the proper transaction of business. Five members shall constitute a quorum for the transaction of business and upon all questions requiring a vote there shall be a concurrence of at least a majority of those present and voting, a quorum being present. All records of said board must be open to the inspection of any elector during business hours.
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