Board of Directors.
Section 6
SEC. 6. Board of Directors. — The Corporation shall be governed and its activities be directed, controlled and managed by a Board of Directors, hereinafter referred to as the Board, composed of five (5) members, three (3) of whom shall come from the Government sector and shall be appointed by the President, while the ether two (2) shall be from the private sector, who own at least 1 share of stock in the Corporation and who shall be elected by the stockholders of the corporation in the annual general meeting or in a special meeting called for such purpose. Each Director shall serve for a term of one (1) year and until his successor shall have been duly appointed and qualified.