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ARTICLE V MANAGEMENT Section 1. The management and control of the Club affairs, funds, and property shall be vested solely in the National Board of Governors in order to promote the best interests of the Club and the purpose for which it was formed. The Board shall have the power to receive and collect membership dues, and to accept contributions and acquire, hold, take by gift, devise, bequest, or purchase property either real or personal, and invest its funds therein. It may sell and dispose of such property and create obligation when it appears to be for the best interest of the Club. All income or increase from whatever source derived shall be used exclusively to promote the purposes for which the Club is organized. The National Board of Governors is authorized to promulgate and enforce such rules and regulations as may be necessary to accomplish the objectives of the Club. Section 2. The National Board of Governors shall consist of fifteen (15) members, elected by general ballot of the members in good standing. Each Governor will be elected for a term of three years. There shall be no more than one national governor elected from any one state. Section 3. Upon the death, disability, resignation, or removal of a National Governor, the National Board of Governors shall select from the general membership and appoint a successor to serve the balance of his term. ARTICLE VI ELECTION OF OFFICERS Section 1. The National Board of Governors immediately upon their election shall select and designate a President, a First Vice President, a Second Vice President, a Third Vice President, and a Treasurer from their numbers. Section 2. The National President subsequent to the 1964 National Reunion, shall not serve more than two terms in office of one year each consecutively. Section 3. The National Board of Governors shall appoint a National Secretary to serve until replaces. The Secretary shall be ineligible as a candidate for election to the National Board of Governors. And no member of the National Board of Governors may be appointed to serve as National Secretary. ARTICLE VII ORGANIZATION Section 1. The OX5 Club of America may be organized into Wings, Groups and Squadrons. Section 2. Wings may be chartered by the National Board of Governors in any area within the United States or in any foreign country. Section 3. A Wing may be chartered in any prescribed area when application for such Charter carries the signatures of not less than twenty-five (25) current members residing in that area and provided the signatures comprise not less than three-fourths (3/4) of the current members residing in that area, and that such application be endorsed by majority vote of the governors of the state involved, if any. Section 4. The Constitution and By-Laws of chartered Wings shall include the standard provisions prescribed by the National Board of 2
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