Meetings of Board.

(1) The Board shall meet at least once in every three months, at such time and place and shall observe such rules of procedure in regard to the transaction of its business at its meetings (including quorum at such meetings) as may be provided by the regulations. (2) All the questions at a meeting of the Board shall be decided by a majority of the members present and voting and, in the event of an equality of votes, the Chairman shall have and exercise a second or casting vote.