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<br />I <br /> <br />I <br /> <br />I <br /> <br />All officers shall be subject to removal from office, <br />with or without cause, at any time by a vote of a majority <br />of the entire Board of Directors. <br /> <br />A vacancy in the office of any officer shall be filled <br />by a vote of a majority of the directors. <br /> <br />section 2. Powers and Duties of the President. The <br />president shall be the chief executive officer of the Cor- <br />poration and, subject to the Board of Directors, he shall be <br />in general charge of the properties and affairs of the <br />Corporation; he shall preside at all meetings of the Board <br />of Directors; in furtherance of the purposes of this Corpo- <br />ration, he may sign and execute all contracts, conveyances, <br />franchises, bonds, deeds, assignments, mortgages, notes and <br />other instruments in the name of the Corporation. <br /> <br />Section 3. Vice President. The vice president shall <br />have such powers and duties as may be assigned to him by the <br />Board of Directors and shall exercise the powers of the <br />president during that officer's absence or inability to act. <br />Any action taken by the vice president in the performance of <br />the duties of the president shall be conclusive evidence of <br />the absence or inability to act of the president at the time <br />such action was taken. <br /> <br />Section 4. Treasurer. The treasurer shall have cus- <br />tody of all the funds and securities of the Corporation <br />which come into his hands. When necessary or proper, he may <br />endorse, on behalf of the Corporation, for collection, <br />checks, notes and other obligations and shall deposit the <br />same to the credit of the Corporation in such bank or banks <br />or depositories as shall be designated in the manner pre- <br />scribed by the Board of Directors; he may sign all receipts <br />and vouchers for payment made to the Corporation, either <br />alone or jointly with such other officer as is designated by <br />the Board of Directors; whenever required by the Board of <br />Directors, he shall render a statement of his cash account; <br />he shall enter or cause to be entered regularly in the books <br />of the Corporation to be kept by him for that purpose full <br />and accurate accounts of all monies received and paid out on <br />account of the Corporation; he shall perform all acts in- <br />cident to the position of treasurer subject to the control <br />of the Board of Directors; he shall, if required by the <br />Board of Directors, give such bond for the faithful dis- <br />charge o~ his duties in such form as the Board of Directors <br />may requlre. <br /> <br />-5- <br />