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' ~T y�• ♦ <br /> Govemors. At any meeting of any such committee the presence of a majority c�f the <br /> members of#he committee shall be necessary to constitute a quorum for the transaction <br /> of business. Committees of the Board shal) take actian by the affirmative vote of a <br /> majority of committee members present at a duly held meeting, exc�pt where the <br /> a�rmative vote �f a larger proportion or number is required by the Board. Any action <br /> req:uired or permitted to b� taken at a cammittee meeting may be taken by a written <br /> action signed collectiv�ly, or individuatly in �ounterparts, by all members of such <br /> comrnittee. Each committee shall keep a written record of its activities and shall submit <br /> such vrrritten record tv the Board after each meeting. <br /> QRTICLE V. MANAG'ERS. <br /> Section �. Manaaers and Qualifications. The managers of the company, who <br /> shall be one �r more nafural persons� may consist of a Chairman of the Board, a Vice <br /> Chairman of the Board, a President, one or more Vice Presidents� a Secre#ary and a <br /> Treasurer, or such other managers as the Board of Gov�rnors may from time to time <br /> d�sig�at�, any one of whom shall be designated and be the Chief Manager and any <br /> ane of whom shall be designated and be the Treasurer. Any number o# management <br /> pos:itions ma� be held by the same person. <br /> Section 2. Electi n. The rnanagers af the company shall be elected or <br /> appointed periodically by the Board af Govemors. <br /> Section 3. Term ofi ManaQers. Each manag�r of the company shall hold a <br /> management position unti! their respective successors are elected and have qualified, <br /> or until their earlier death, resignation, or removal. <br /> ���-, 9 <br /> R$ <br /> �t I D�8-R-$B�N:N 8 T T <br /> isCr:A1V9tARVN��DSL <br />