The Board of Directors of the Corporation shall consist of two representatives from each of the contracting industries using the Depository and the Executive Director. The Board members shall be elected by their peers and serve for a three year term.
Members of the Board of Directors shall be replaced to serve the remainder of their terms if they fail to attend less than 50% of the Regular and Special Board Meetings. A Board member can also be replaced if He or She miss two consecutive Regular Meetings. This action shall be at the discretion of the Board of Directors.
A majority of the Board of Directors shall constitute a quorum.
The El Paso Bid Depository System, Inc. the Corporation, shall hold quarterly meetings or as required for the operation of the Corporation and as approved by the Board of Directors at date, time and location determined by the Board of Directors.
The first regular meeting of the fiscal year shall be a joint Board meeting which shall be attended by all incoming and outgoing members of the Board of Directors.
The Board of Directors meeting shall be open to any interested party; but, such persons may only participate when requested to do so by the presiding officer.