Board of Directors: Organization; Quorum

Board of Directors: Organization; Quorum. The board shall organize by electing one of its members as chairman and another as vice-chairman. The board shall designate a secretary to keep the minutes and records of the board, who may or may not be a member of the board itself. Any four members of the board shall constitute a quorum, and a concurrence of four members shall be necessary for any official action taken by the board unless otherwise provided herein. No vacancy in the membership of the board shall impair the right of a quorum to exercise all of the rights and perform all of the duties of the board. Source: PL 2-48, § 7.