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ARTICLE III BOARD MEETINGS Section 3.1. The Board shall meet no less than four (4) times per calendar year at the registered office of the Corporation or at such other location as is provided 'in the notice of the meeting, Section 3.2. A meeting of the Board may be called by the Chair or by any two directors upon five days written notice to all directors of the date, time, place and purpose of the meeting. Notice of an adjourned meeting need not be given other than by announcement at the meeting at which adjournment is taken. ?Notice is also not required if the meetin(, information is announced at a previous Board meeting, Notice may he waived in accordance with the provisions of Minnesota Statutes, Section 317A.231, subd. 4. Section 3.3. A majority of the directors currently holding office is a quorum for the transaction of business. In the absence of a quorum} a majority of the directors present may adjourn a meeting from time to time until a quorum is present. Section-14. The Board may take action as follows: (1) The Board shall take action by the affirmative vote.o f a majority of directors present at duly held meeting unless Minnesota Statutes, Chapter 317A or these Bylaws require the affirmative vote a larger proportion or number; and (2) An action required or permitted to be taken at a Board meeting may be taken by a writing signed by all of the directors, The written action is effective when signed by the directors, unless a different effective time is provided in the written action. 4