BY-LAWS OF THE INSTITUTION. XV 



2. The Chairman shall preside at all meetings and shall have the usual 

 powers of a presiding officer. 



3. The Vice-Chairman, in the absence or disability of the Chairman, shall 

 perform his duties. 



4. The Secretary shall issue notices of meetings of the Board, record its 

 transactions, and conduct that part of the correspondence relating to the 

 Board and to his duties. He shall execute all deeds, contracts or other 

 instruments on behalf of the corporation, when duly authorized. 



Article IV. 



EXECUTIVE ADMINISTRATION. 



The President. 



1. There shall be a President who shall be elected by ballot by, and hold 

 office during the pleasure of, the Board, who shall be the chief executive 

 officer of the Institution. The President, subj ect to the control of the Board 

 and the Executive Committee, shall have general charge of all matters of 

 administration and supervision of all arrangements for research and other 

 work undertaken by the Institution or with its funds. He shall devote his 

 entire time to the affairs of the Institution. He shall prepare and submit to 

 the Board of Trustees and to the Executive Committee plans and sug- 

 gestions for the work of the Institution, shall conduct its general corre- 

 spondence and the correspondence with applicants for grants and with the 

 special advisers of the Committee, and shall present his recommendations 

 in each case to the Executive Committee for decision. All proposals and 

 requests for grants shall be referred to the President for consideration and 

 report. He shall have power to remove and appoint subordinate employees 

 and shall be ex officio a member of the Executive Committee. 



2. He shall be the legal custodian of the seal and of all property of the 

 Institution whose custody is not otherwise provided for. He shall affix the 

 seal of the corporation whenever authorized to do so by the Board of Trus- 

 tees or by the Executive Committee or by the Finance Committee. He 

 shall be responsible for the expenditure and disbursement of all funds of the 

 Institution in accordance with the directions of the Board and of the 

 Executive Committee, and shall keep accurate accounts of all receipts and 

 disbursements. He shall submit to the Board of Trustees at least one 

 month before its annual meeting in December a written report of the opera- 

 tions and business of the Institution for the preceding fiscal year with his 

 recommendations for work and appropriations for the succeeding fiscal year, 

 which shall be forthwith transmitted to each member of the Board. 



3. He shall attend all meetings of the Board of Trustees. 



Article V. 



COMMITTI ES. 



1. There shall be the following standing Committees, viz., an Executive 

 Committee, a Finance Committee, and an Auditing Committee. 



