Subsection 1: Board of Directors.

The Board of Directors may only validly deliberate if at least ten of its members are present. If this number is not reached, the Board is reconvened within fifteen days. It may then validly deliberate regardless of the number of members present. Voting by proxy is permitted. A Board member may only hold one proxy; Decisions are taken by a majority of the members present or represented, with the exception…

The General Manager shall provide secretarial services for the Board of Directors. A copy of the minutes of each meeting of the Board of Directors, signed by the Chairman, is sent to the members of the Board of Directors and to the representative of the General Economic and Financial Control.