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4.04 [[underlined]] Quorum. [[/underlined]] A majority of the members of the audit and review committee and of the investment policy committee shall constitute a quorum. Unless otherwise specified by the Board of Regents, a majority of such other standing and special committees as may be established by the Board of Regents shall constitute a quorum.

4.05 [[underlined]] Chairmen; Rules [[/underlined]]. Each committee established by the Board of Regents shall perform its functions under the general direction of a chairman appointed  by the Chancellor with approval of the Board of Regents.  Each such committee shall have the power to adopt rules for the conduct of its business in respect of all matters not provided for in these bylaws or by rules adopted by the Board of Regents. Expenses of members in attending meetings of committees established by the Board of Regents, including travel expenses to and from the place of meeting, may be paid by the Institution. Each committee established by the Board of Regents shall keep or cause to be kept minutes of its meetings, which shall be filed and maintained in the office of the Secretary of the Institution.

Section 5 - Officers

5.01 [[underlined]] Chancellor [[/underlined]]. The presiding officer of the Institution shall be the Chancellor elected in accordance with the Charter.