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0 25 12 <br /> every directorahall be presentr even though without notie@ or <br /> waiver thereof, any business may be transacted . <br /> 8 . Chairman. At allneetings of the board of di- <br /> rectors the-president or vice-pr ealaoot, ox, in their absence a <br /> 61tainnan chosen by the direttors presento shall preolde. <br /> 9. jjopum* At all meetings of the board of directors <br /> a majority of-the directors ohall be hwc8ssary and Sufficient to <br /> constitute a, quos m for the tranSaCtion of business and the act <br /> of a majotty, of the directors present, at &Ayy meeting at which <br /> there is a quorum, shall be the act of the board of directoral <br /> except as may, be otherwise spec,ifically pr,ovided by &tatute or by <br /> theme by-laws. If at any meeting there is less than, a quorum <br /> present, a majority of those present may Qjourn the muotinq from <br /> time to time withoat further nouns to any absent directer . <br /> 19. Prohibited Activities. Whie corporation sta,11, not <br /> 'Onq,aaa In an, act or acts or fail to act-�f such act or acts or <br /> .,, q _y <br /> failure to act shall give rise to liability for tax under <br /> .i rks K41 to 4945, inolusive of chapter 42 of the Internal <br /> Revenue Code of 1954. The corporation shall not engage io any <br /> act of self-dealing as defined in sAction 494ICd) of the internal <br /> Revenue Code and Regulations promolqUA with respect thereto,, <br /> nor ahall It ;'Pa,.ke a *taxable elpenditurem as that term is defined <br /> in station 4945(dl of the internal ovenue Cod in ,ud mg,, but <br /> not by wav of limitation PxnPnMrrPP for Inhhvinn , Plerr lnn ., <br />