Rule 4 - Transaction of Business(a) The Board shall meet from time to time at the call of the chairman or a majority of their own number as necessary for the performance of its duties and the conduct of other business. Such meetings shall be called on at least 5 days' written notice unless all members of the Board waive such notice. Meetings may be held by telephone conference or similar means enabling all members participating at the meeting to hear one another. Except as provided in Subsection 4(b), five members of the Board shall constitute a quorum for the transaction of business. The Board may act through the concurrence or vote of a majority of those members present at a meeting called on sufficient notice or waiver of notice.(b) The Chairman may, in his discretion, designate a panel consisting of three Board members, at least one of whom shall be a public member, to transact the Board's business and responsibilities under Rule 9(b), (c), and (d).Amended effective 2/26/1990.