Page 3 Section 4 The Treasurer shall have the custody of all moneys and securities of the Corporation and shall deposit the same in the name and to the credit of the Corporation in such depositories as may be designated by the Board of Trustees. He shall keep a full and accurate account of the receipts and disbursements of the Corporation in appropriate books and shall disburse the funds of the Corporation by check or other warrant, to be signed as prescribed by these By-laws, taking proper receipts for such disbursements, which shall be properly filed and arranged for reference. All books and papers in his care shall be always open to the inspection of the Chairman or any member of the Board of Trustees. He shall render such reports to the Chairman as may be requested. ARTICLE III ELECTION OF OFFICERS Section 1 All officers shall be elected for a term of one (1) year by the Board of Trustees from among their membership and such election shall be held on or before the 1st day of January of each year. Any vacancy occurring within a term may be filled by the Board of Trustees. Section 2 If for any reason there shall be a failure to elect all the members of the Board of Trustees or any officer, the Board of Trustees at its next meeting shall fill the same.