8. BOARD OF DIRECTORS

8.1 The Board of Directors is the governing and the executive body of the Association and possesses unlimited capacity in representation and management of the activities of the Association. The Board of Directors shall report to the Ordinary General Assembly on the activities and other important issues concerning the Association.

8.2 The Board of Directors consists of 9 full and 8 alternate members, elected by the Ordinary General Assembly by secret ballot for a term of one year.

The term of office of the elected Board of Directors will commence on the first day following the Ordinary General Assembly. The Board of Directors shall elect a Chairman, two Vice Chairmen and a treasurer among its members at their first meeting held after their appointment during the Ordinary General Assembly.

8.3 The Board of Directors shall convene at least on a quarterly basis. Where necessary, the Chairman or two Vice Chairmen together or at least 3 other members of the Board may call a meeting of the Board of Directors. The minutes of each Board Meeting shall be made available to all the members in Turkish as well as in English. Information pertaining to the meetings and activities conducted by the members of the Board of Directors in the name of the Association shall be accessible by all members.

The Board of Directors shall be called in writing at least one week prior to the meeting date.

8.4 Resolutions shall be adopted by simple majority vote unless provided or agreed otherwise.

8.5 The Board of Directors may form or dissolve an Executive Committee or appoint/revoke any subcommittees within the Association for the purpose of conducting the activities of the Association.The Board of Directors shall decide if, when and how to employ or dismiss employees

8.6. Vacancy of the Board of Directors’ Membership

8.6.1 A membership of the Board of Directors may become vacant due to the following reasons:

• Death of a member of the Board of Directors,
• Resignation of a member of the Board of Directors (by a written notice to the Chairman from the resigning member),
• in the event the company of which the member is a representative ceases to be a legal entity.

8.6.2 Any member of the Board of Directors will be regarded as dismissed, who fails to attend three consecutive meetings without any admissible excuse. The Board may in such cases take a final decision to declare the position vacant by a three-fourths majority vote.

8.6.3 If a position as a full Board Member becomes vacant, the alternate member with the highest number of votes shall automatically become a full member. In the event alternate members having equal number of votes, a lot shall be drawn.

8.7 The Board of Directors may also nominate individuals for Honorary Membership during the Annual General Assembly.

8.8 Names, addresses and other information related to the Board Members shallbe notified to the local administrative authority within the district (where the Association's Head Office is located) within 7 days of their appointment by the General Assembly.

8.9 The Board of Directors may maintain a staff of experts, consultants or permanent employees.

8.10 Preparation of the budget and working program for the next term and submitting the same to the General Assembly for ratification,

8.11 Preparation of the Activity and Account Reports for the preceding term and Submitting the same to the General Assembly,

8.12 Upon empowerment by the General Assembly, making transfers between budget periods, where required,

8.13 Keeping the books required by the Laws and this Charter, or having them kept by officers of the Association under its supervision,

8.14 Delegating members or non-members of the Association, where necessary, to follow up on and to execute certain tasks,

8.15 Purchase, sale, renting out or renting of properties in line with the objective and duties of the Association upon the authority granted by the GeneralAssembly.