BY-LAWS. 15 



Article V. 



COMMITTEES. 



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

 Executive Committee and a Finance Committee. 



2. The Executive Committee shall consist of the Chairman and 

 Secretary of the Board of Trustees and the President of the Institu- 

 tion ex officio and, in addition, five trustees to be elected by the 

 Board b}' ballot for a term of three years, who shall be eligible for 

 re-election. Any member elected to fill a vacancy shall serve for 

 the remainder of his predecessor's term: Provided, however, that of 

 the Executive Committee first elected after the adoption of these 

 by-laws two shall serve for one year, two shall serve for two years, 

 and one shall serve for three years ; and such Committee shall de- 

 termine their respective terms by lot. 



3. The Executive Committee shall, when the Board is not in ses- 

 sion and has not given specific directions, have general control of 

 the administration of the affairs of the corporation and general 

 supervision of all arrangements for administration, research, and 

 other matters undertaken or promoted by the Institution ; shall ap- 

 point advisory committees for specific duties ; shall determine all 

 payments and salaries ; and keep a written record of all transactions 

 and expenditures and submit the same to the Board of Trustees at 

 each meeting, and it shall also submit to the Board of Trustees a 

 printed or typewritten report of each of its meetings, and at the 

 annual meeting shall submit to the Board a report for publication. 



4. The Executive Committee shall have general charge and control 

 of all appropriations made by the Board. 



5. The Finance Committee shall consist of three members to be 

 elected by the Board of Trustees by ballot for a term of three years. 



6. The Finance Committee shall have general charge of the invest- 

 ments and funds of the corporation, and shall care for and dispose of 

 the same subject to the directions of the Board and of the Executive 

 Committee. It shall consider and recommend to the Board of Trustees 

 such measures as in its opinion will promote the financial interests of 

 the Institution, and shall make a report at each meeting of the Board. 



7. All vacancies occurring in the Executive Committee and the 

 Finance Committee shall be filled by the Trustees at the next regular 

 meeting. 



8. The terms of all oflQcersand of all members of committees shall 

 continue until their successors are elected or appointed. 



