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Organization of New York Academy of Sciences      17

Article II
BOARD OF TRUSTEES

SECTION 1. Meetings. The Board of Trustees shall hold a meeting in January of each year and at least three other meetings in each year upon such dates as it shall determine. The Chairman of the Board of Trustees shall preside at all meetings of the Board but in case of death, absence, resignation or disability of the Chairman, the President of the Academy shall perform the duties and exercise the powers of the Chairman until his return or until a successor is appointed. 
SECTION 2. Committees. The Standing Committees of the Board of Trustees shall be a Finance Committee and a Nominating Committee and such other Committees as the Board of Trustees may establish. 
The Board of Trustees at its meeting in January of each year shall appoint the members of the Standing Committees who shall serve for one year, or until their successors are appointed. 
Special Committees authorized by the Board of Trustees shall serve for such periods as shall be designated by the Board of Trustees, but all Special Committees shall automatically terminate on the first meeting of the Board of Trustees in January of each year, unless continued by the Board of Trustees at said meeting. 

Article III
COMMITTEES OF THE BOARD OF TRUSTEES

SECTION 1. Finance Committee. This Committee shall consist of three Trustees. Two members of this Committee shall constitute a quorum. 
The Finance Committee shall keep the investments of the Academy under constant scrutiny, and shall have the power to order the purchase or sale of securities. The Chairman of the Board of Trustees, the Treasurer and the Executive Director shall have the privilege of attending all meetings of the Finance Committee, but shall not have the power to vote. 
All transfers and assignments of the securities registered in the name of the Academy shall be executed under the Seal of the Academy by the Treasurer, over his signature or, in his absence, by the President or the Chairman of the Finance Committee, together with the Recording Secretary. The Chairman of the Finance Committee shall report to the Board of Trustees at the next regular meeting thereof all purchases and sales of securities and investments made. 
The Board of Trustees may, however, at any time, direct the sale or retention of any securities and investments held by the Academy, or