12 GCA § 50109: Board of Directors. Miscellaneous Provisions.

(a) The Board shall be responsible for the management, administration, policies and direction of the Corporation and shall exercise supervision through the Administrator.

(b) The Board shall meet in regular session at least once each month, and in special session as often as it may deem necessary.

(c) A majority of the Board shall constitute a quorum for the transaction of business. The Board shall act by the vote of at least four (4) of its members.

(d) The Directors shall receive no salary for their services on the Board, but in amounts prescribed by the Board, they may be paid a reasonable per diem not to exceed Fifty Dollars ($50.00) for attendance at meetings of the Board and reasonable travel allowances for time spent on official business of the Corporation.