Section 36
SEC. 36. Then affairs and business of the Reverse Bank shall be directed and its property managed and preserved, unless otherwise provided in this Act, by a Board of Governors consisting of five members appointed by the President of the Philippines with the consent of the Commission on Appointments of the National Assembly. Of the persons thus appointed, one shall be designated by the President of the Philippines as Chairman and one as Vice-Chairman of the Poard. The governors shall be appointed and shall hold office for a term of five years, except four of the members of the Soard first appointed, who shall hold office for one, two, three, and four years, respectively. The Governors may be removed by the President of the Philippines and the vacancies shall be filled for the unexpired portion of the term in the same manner as in the case of an original appointment. The Governors shall be paid by the Reserve Bank such_compensation as may be determined by the President of the Philippines.