(1) The meeting of the committee shall be held at the time and place designated by the committee and the procedure of the meeting shall be as prescribed. In the absence of the chairman, the director chosen by the directors from among themselves will preside over the meeting of the committee (2) If more than half of the total number of members present in the committee are present at the meeting, the quorum of the committee will be considered to be sufficient.
(3) The decision of the majority of directors present and voting at the meeting of the committee shall be valid. The person presiding usually does not have the right to vote, but in the case of a tie, he has the casting vote.