SECTION 1:  The powers of this Association shall be exercised, its property controlled, and its affairs conducted by the Board of Directors, except as limited by these bylaws.

SECTION 2:  The Board of Directors of this Association shall consist of five persons, all of who shall be registered Members, as described in Article II, Section 1.

SECTION 3:  The term of office for Directors shall be three years; provided that for the first election two directors shall be elected for terms of two years, two directors shall be elected for terms of three years and one director shall be elected for a term of four years. No Director shall be elected to serve for more than two consecutive terms.

SECTION 4:  The election of Directors shall be as set forth in Article VII. In the absence of elections, each Director shall continue until a successor is duly elected.

SECTION 5:  Terms of office shall commence on July 1, except in the case of appointments to unexpired terms as hereinafter provided.

SECTION 6:  A vacancy in any Officer or Director position caused by death, disability or resignation shall be filled by the Board of Directors, and the person so appointed shall hold office for the remainder of the unexpired term.