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! " Section 4. MEET _S. The meetings of the .Ird of Directors shall be held at such regular intervals as the Board of Directors shall determine and an organization meeting for the election of officers shall be held immediately fOllowing the Annual meeting of the members. A majority of the Board of Directors present in person at any meeting of the Board shall constitute a quorum for the conduct of business thereat. Section 5. POWERS AND DUTIES. The Board of Directors shall have the general power to act for and in behalf of the Association in any manner not prohibited by statute or by the Certificate of Incorporation. The Board of Directors shall have the immediate control and supervision over the business affairs'and management of the Association and shall have the power and authority to hire and employ such labor and other employees as may be necessary and advisable to carry out the purpose of this Association. The Board of Directors shall elect the officers.of this Association, and shall adopt and procure a corporate Seal for said Association, All policies and regulations for the operation of this Association shall be determined and promulgated by the Board of Directors, Said Directors shall establish all assessments to be levied against the members hereof and shall provide for the manner of receiving and collecting such charges and assessments, and for the enforcemen~ of the collection thereof. Said Directors shall pre- scribe the form of applications for membership and shall act upon all such applications, The Directors shall provide for the mainten- ance of accurate records and books of account for the affairs and business of the Association, and shall cause regular audits to be made at least once each year, Said Directors shall approve and direct all disbursements out of the funds of this Association and shall determine the necessity for and extent of any indebtedness - 4 -