Section 188-F:5 - Operation of Board of TrusteesI. The board shall elect its own chairperson and vice-chairperson annually.II. The board shall choose a secretary, who shall keep a record of proceedings, and a treasurer, who shall give a bond satisfactory to the trustees for the faithful discharge of duties as treasurer. The trustees may, in their discretion, require a bond for any other persons employed by or administering the affairs of the community college system. Said trustees shall determine the amount and sufficiency of the surety of said treasurer's bond or any other bonds required under this section.III. Twelve voting members shall constitute a quorum for the transaction of business, but not less than 12 affirmative votes shall be required to elect the chancellor of the community college system. IV. The board shall meet at such times and places as it may determine, but shall hold regular meetings no less than once every 3 months. The chairperson shall call special meetings upon the written request of any 5 board members or upon the chairperson's own motion. V. Members shall receive no compensation for their services but shall be reimbursed for expenses reasonably incurred by them in the performance of their duties. 2007, 361:2. 2008, 133:2, eff. June 3, 2008.