Section 1
The Directors of the Association shall be elected by the Members
for a term of three years. The Chairman shall be elected by the
Directors.
Section 2
The duties of the Board of Directors are to lay down general and
specif ic principles of the Association, execute the decisions
made by the meetings of Members, examine investment,
decide the rate of supplementary calls, determine t he
proportion of the administration fee of the Association, supervise
and inspec t the work of the Managers, settle
important problems whatsoever submitted by th e
Managers and adjudicate any difference or dispute arising between
Members and the Managers out of or in connection
with the Rules of the Association.
Section 3
The Directors convene at least two meeting every year, and shall
meet as often as they deem necessary for the settlement of important
matters, (A proxycan be appointed by a Director to attend the meeting
in case the Director can not attend himself). Experts and consultants
would be invited to attend the Directors meetings, if required.
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