ARTICLE V 



EXECUTIVE ADMINISTRATION 

 THE PRESIDENT 



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

 and to hold office during the pleasure of, the Board, who shall be the chief 

 executive officer of the Institution. The President, subject to the control of 

 the Board of Trustees or the Executive Committee, shall have general 

 charge of all matters of administration and supervision of all arrangements 

 for research, exploration or other work undertaken or promoted by the 

 Institution. He shall devote his entire time to the affairs of the Institution 

 unless otherwise privileged by the Executive Committee. He shall prepare 

 and submit to the Board of Trustees or to the Executive Committee plans 

 and suggestions for the work of the Institution, and shall present his plans 

 in each case to the Executive Committee for decision. He shall conduct 

 the general correspondence of the Institution, including the correspondence 

 with the advisers of the Institution, and shall have general supervision of all 

 subordinate officers, assistants, students and employes, with power to appoint 

 and dismiss the same. All plans, proposals, contracts, requests or similar 

 matters bearing on the work or administration of the Institution, shall be 

 referred to the President for consideration and report. He shall be ex- 

 officio a member of the Board of Trustees and of the Executive Committee. 



2. He shall be the legal custodian of all property of the Institution, 

 the care of which is not otherwise provided for. He shall cause to be kept 

 accurate accounts of all moneys received and disbursements made by him 

 under the direction of the Board and of the Executive Comniittee. He 

 shall submit to the Board of Trustees, not later than the first day of Decem- 

 ber of each year, a written report of the operations and business of the In- 

 stitution for the preceding fiscal year, with his general plans and recom- 

 mendations for the succeeding fiscal year. 



3. He shall attend all meetings of the Board of Trustees unless ex- 

 cused by the Board. 



ARTICLE VI 



FINANCIAL ADMINISTRATION 



I . The fiscal year of the Institution shall commence December first 

 in each year. 



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