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�- <br />reasons for which a vacancy in the office of director shall <br />occur. Vacancies shall be filled by the Executive Committee <br />until the next meeting of the Board. <br />Section 3. The chairman shall preside at all meetings <br />of the Board. The vice chairman shall act as chairman in <br />the absence, disqualification or disability of the chairman. <br />Section 4. The secretary-treasurer is responsible <br />for keeping a record of all the proceedings of the Board <br />and the Executive Committee, for custody of all funds, for <br />the keeping of all financial records of the organization <br />and for such other matters as are delegated to him by the <br />Board. Persons may be engaged to perform such services <br />under his supervision and direction as authorized by the <br />Board. The secretary-treasurer shall post a fidelity bond <br />or other insurance against loss of organization funds in <br />amount approved by the Board at the expense of the Authority. <br />The secretary-treasurer may be compensated for his services <br />in such amounts as may be established by the Executive <br />Committee. <br />VIII. EXECUTIVE COMMITTEE <br />Section 1. The Board shall provide in its by-laws <br />for the nomination of candidates for and the election of <br />an Executive Committee consisting of no more than fourteen <br />persons, plus the Chairman of the Authority who is ex <br />ofiicio Chairman of the Executive Committee with a vote. <br />10 <br />