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(2) The Board may delegate to a committee of the Board any of its functions which, in its opinion, can be better or more conveniently performed by a committee, and may regulate the procedure of any such committee.
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(3) A committee of the Board shall consist of such number of members as the Board thinks proper and may, at the discretion of the Board, consist exclusively of persons who are members of the Board or partly of persons who are members of the Board and partly of persons who are officers of the Board.
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