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<br />Term of Office <br /> <br />5.03 Each member of a committee shall continue as such until <br />the next annual meeting of the Trustees of the corporation and <br />until his successor is appointed, unless the committee shall be <br />sooner terminated, or unless such member be removed from such <br />committee, or unless such member shall cease to qualify as a <br />member thereof. <br /> <br />Chairman <br /> <br />5.04 One member of each committee shall be appointed chairman <br />by the Board of Trustees authorized to appoint the members <br />thereof. <br /> <br />Vacancies <br /> <br />5.05 Vacancies in the membership of any committee may be <br />filled by appointments made in the same manner as provided in <br />the case of the original appointments. This provision shall not <br />be in conflict with Sections 3.01,3.02 and 3.12 herein. <br /> <br />Quorum <br /> <br />5.06 Unless otherwise provided in the resolution of the Board <br />of Trustees designating a committee, a majority of the whole <br />committee shall constitute a quorum and the act of a majority of <br />the members present at a meeting at which a quorum is present <br />shall be the act of the committee as long as the action of the <br />committee are not inconsistent with Section 3.11. <br /> <br />Rules <br /> <br />5.07 Each committee may adopt rules for its own goverrunent <br />not inconsistent with these bylaws or with rules adopted by the <br />Board of Trustees. <br /> <br />ARTICLE SIX <br /> <br />CONTRACTS, CHECKS, DEPOSITS, AND FUNDS <br /> <br />Contracts <br /> <br />6.01 The Board of Trustees may authorize any officer or <br />officers, agent or agents of the corporation, in addition to the <br />officers so authorized by these bylaws, to enter into any contract <br />or execute and deliver any instrument in the name of and on behalf <br /> <br />9. <br />