(1) Every organization shall have a board of directors consisting of at least three directors.
(2) The appointment of the director of the organization shall be done by the general meeting of the organization subject to the existing law.
(3) A person chosen by the majority of the directors from among themselves shall be the chairman of the board of directors.
(4) Qualifications of persons to be appointed as directors of organizations other than banks and financial institutions and other provisions related to the board of directors shall be as mentioned in the regulations made under this Act.