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f _~_ _ ~ ~'i~G058~ ticction '77 Annual Board Mcetiny. 9'he annual. meetiny of the members of the Board oC AdministraC~rs shall be held immediately following the annual meeting of the Association, at such time and place as shall be fixed by the Association at the meeting at which such Board of Administrators shall have been elected, and no notice shall be necessary to the newly elected members of the Doard of Administrators in order legally to constitute such meeting, providing a majority of the whole Boazd of Administrators shall be present thereat. Section 8. Special Board Meetings. Special meetings of the Board of Administratars may be called by the President upon five (5) business days' notice to each member of the Board, given by mail or telegraph, which notice shall state the time, place and purpose of the meeting. Special meetings of the Board of Administratozs shall be called by the President or Secretary in like manner and like notice on the written request of at least three (3) members of the Board of Administrators, unless there are less than three (3) members, in which event, upon the written request of the one or two remaining. Section 9. Waiver of Notice. Any member of the Board of Administrators may, at any time, waive notice of any meeting of the Board of Adminis- tr~~tors in writing, and such waiver shall be deemed equivalent to the giviny of such notice. Attendance by a member of. the Board of Administrators at any meeting of the Board shall constitute a waiver of notice to him of the time and place thereof. If all the members of the Board of Administrators are present at any meeting of the Board, no notice shall be rcyuired and any business may be transacted at such meeting. Section 10. Quo At all meetings of the Board of Administrators, a majority of the members thereof shall constitute a quorum for the transaction of business, and the votes of a majority of the members of the Board of Administrators present at a meeting at which a quorum is present shall constitute the decision of the Soard of Administrators. If at any meeting of the Doard of Administrators there shall be leas than a quorum present, a majority of those present may adjourn the meeting from time to time. At any such adjournment at which a quorum is present, any business which might have been transacted at the meeting originally called, may be transacted without further notice. Section 11. Fidelity Bonds. The Board of Administrators may obtain adequate fi- d,lity bonds for all officers and employees of the Associ- ation handling or responsible for Association funds. The premiums on such bonds shall constitute a common expense. Section 12. Compensation. No member of the Board of Administrators shall receive any compensation from the Association for acting as such. except that members shell receive reimbursement for expenses actually incurred by them as Administrators. -5-