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Section 7.14. Audit Committee.

The Audit Committee shall consist of five members as follows:

  1. three persons appointed by the Board, none of whom are members of the Board or hold a salaried position with the Association;
  2. the Financial Advisor; and
  3. a member of the Finance Committee, who shall be appointed by the Board.

No member of the Audit Committee shall serve for more than four terms on the Audit Committee.

The duties of the Audit Committee are set forth in Article X.

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