Board of Directors: Meetings. (a) Meetings of the Board shall be held within the Commonwealth at a time and place publicly designated by the Board at least once every month for its first two years of existence. Thereafter it shall meet at least quarterly. Special meetings may be called by the chairman or by the majority of the Board members. (b) All meetings shall be open to the public, except where the Board finds that personal matters affecting the privacy of an individual or other confidential matters are to be considered. In such a case the Board may, or at the request of the individual involved shall, consider the matter in closed session; provided, that any opening of public bids, award of public bids, or other official action resulting from the meeting shall be acted upon in an open meeting. (c) The presence of four members shall constitute a quorum for the transaction of business at any Board meeting. Source: PL 4-47, § 1 (§ 8132); amended by PL 7-54, § 4; amended by EO No. 2006-04, § 4 (8132); repealed and reenacted by PL 16-17 § 10(8132). Commission Comment: See the comment to 4 CMC § 8111.