The Board shall have an Executive Board composed of—
(1) the chairman of the Board;
(2) the vice chairman of the Board;
(3) the secretary of the Board;
(4) the treasurer of the Board; and
(5) an at-large member of the Board elected by the Board at its initial meeting.
In the case of any vacancy which occurs in the position of at-large member before the expiration of such member's term, the Board shall elect a replacement to complete that term.
The Executive Board shall hold not more than 4 regular meetings per calendar year. Special meetings may be held upon the call of the chairman or 3 members of the Executive Board.
A majority of the Executive Board shall constitute a quorum.
The Executive Board may hold and use all the powers of the Board, subject to the approval of the Board.