Section 1. Number.

The officers of the Association shall be a President, a Vice President, and a Secretary, each of whom shall be elected by the Board of Directors from its own number. Such other officers and assistant officers as may be deemed necessary may be elected or appointed by the Board of Directors.

Section 2. Election and Term of Office.

The officers of the Association shall be elected annually by the Board of Directors at the first meeting of the Board held after each annual meeting of the members. If the election of the officers shall not be held at such meeting, such election shall be held as soon thereafter as conveniently may be. Each officer shall hold office until his successor shall have been duly elected and shall have qualified, or until his death or until he shall resign or shall have been removed in the manner hereinafter provided.

Section 3. Removal.

Any officer or agent elected or appointed by the Board of Directors may be removed from office by the Board of Directors whenever in its judgment the best interest of the Association would be served thereby.

Section 4. Vacancies.

A vacancy in any office because of death, resignation, removal, disqualification or otherwise, may be filled by the Board of Directors for the unexpired portion of the term.

Section 5. President.

The President may, when present, preside at all meetings of the members and of the Board of Directors. He may sign, with the Secretary or any other proper officer or employee of the Association thereunto authorized by the Board of Directors, certificates of membership, any deeds, mortgages, bonds, contracts, or other instruments which the Board of Directors has authorized to be executed, except in cases where the signing and execution thereof shall be expressly delegated by the Board of Directors or by these By-Laws to some other officer or agent of the corporation, or shall be required by law to be otherwise signed or executed; and, in general, he shall perform all duties incident to the office of President, and such other duties as may be prescribed by the Board of Directors from time to time.

Section 6. Vice President.

In the absence of the President or in the event of his death, or inability or refusal to act, the Vice President shall perform the duties of the President, and when so acting, shall have all the powers of and be subject to all restrictions upon the President. The Vice President may sign, with the Secretary or any other proper officer or employee of the Association, certificates of membership, and shall perform such other duties as from time to time may be assigned to him by the Board of Directors.

Section 7. Secretary.

The Secretary shall: (a) keep the minutes of the members’ meetings and of the Board of Directors’ meetings in one or more books provided for that purpose; (b) see that all notices are duly given in accordance with the provisions of these By-Laws, as required by law; (c) be custodian of the corporate records and of the seal of the corporation and see that the seal of the corporation is affixed to all documents, the execution of which on behalf of the corporation under its seal is duly authorized; (d) keep a register of the post office address of each member, which address shall be furnished to the Secretary by such member; (e) sign with the President, or Vice President, or other authorized officer or employee of the Association, certificates of membership in the Association, the issuance of which shall have been authorized by these By-laws or by resolution of the Board of Directors; and (f) in general, perform all duties incident to the office of Secretary, and such other duties as may from time to time be assigned to him by the Board of Directors.

Section 8. Bond of Officers.

The Board of Directors may require any officer, or other employee, of the Association charged with the responsibility for the custody of any of its funds or property to give bond in such amount and with such sureties as the Board of Directors shall determine, with the premium for the bond being paid by the Association.

Section 9. Salaries.

No officer of the Association shall be entitled to receive any salary for the performance of his duties as such officer.