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Meetings of the Board; quorum, required votes; per diems. The Board of Trustees shall, immediately after its organization, adopt rules and procedures in the conduct of its meetings. A majority of the Board shall constitute a quorum for the transaction of business and the affirmative vote of three shall be required for the adoption of any action. For actual attendance at meetings, the Chairman and the three members, shall each receive a per diem of one hundred pesos but in no case shall any one receive more than four hundred pesos a month.
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