Section 6
SEC. 6. Meeting, quorum of the board.&mdashThe board of governors shall have an annual general meeting at such time and place as may be provided by its constitution and by-laws. Special meetings may be called by the President either at his own initiative or upon the request of one-third of the members of the board. At all meetings of the board, the presence of a majority of the members thereof shall constitute a quorum for the valid transaction of business. Each member of the board shall be entitled to only one vote and no vote by proxy shall be allowed.