parent, the child may remain a member of the Club if within 90 days of the death or expulsion of the parent, a member of the Club acceptable to the Membership Committee (the Responsible Member) agrees to be responsible for the conduct and Club related financial obligations of such child. If for any reason the Responsible Member shall cease to be a member of the Club or otherwise cease to be the Responsible Member, such child shall immediately cease to be a member of the Club but may be reinstated upon the agreement of another approved Responsible Member for such child. ARTICLE III BOARD OF DIRECTORS SECTION I – NUMBER (a) The Board of Directors shall consist of (i) 18 members elected by the stockholders or under SECTION II of this ARTICLE, divided into two classes of directors each Director shall be elected to serve a term of two years, or until his or her successor is elected and qualified and (ii) the two immediate Past Presidents of the Club, titled Honorary Directors, who shall have all the rights and duties of the other Directors. Any 10 members of the Board of Directors shall constitute a quorum for the transaction of business. (b) All other Past Presidents shall have the title Advisory Director provided, however, that those persons elected President after 1997 shall cease to be Advisory Directors when they have reached their 72nd Birthday. While not members of the Board of Directors, Advisory Directors may attend and participate fully in any meeting of the Board of Directors, except that they shall have no vote on any matter. (c) No person shall be elected by the stockholders to the office of Director for more than three consecutive terms, and no person who has held the office of Director for more than one year of a term to which some other person was elected Director shall be elected to the office of Director for more than two consecutive terms thereafter; provided, however that a person may be elected to the office of Director after a lapse of service as a Director of one year. The President and Vice President may extend beyond three consecutive terms in order to serve as Director while serving as President or Vice President. SECTION II – VACANCIES All vacancies on the Board of Directors shall be filled by the Board, and the members so elected shall hold office until the next Annual Election or until their successors are elected and qualified. SECTION III – MEETINGS The Board of Directors shall hold a regular meeting in the months of March, June, September and November. A special meeting of the Board of Directors may be called at any time by the President or upon the request in writing of a majority of the Directors.
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