Section 2. Five of the initial directors shall be elected for a one-year term and the remaining six for a two year term. Thereafter, all directors’ terms will be for two years. No director shall be eligible to serve consecutive terms, but may be re-elected after retiring for a minimum of one year.

Section 3. A regular annual meeting of the Board of Directors shall be held without other notice than this Bylaw, immediately after, and at the same place as, the annual meeting of members. The board of Directors may provide by resolution the time and place, either within or without the State of South Dakota for the holding of additional regular meetings of the board without other notice than such resolution. The Board of Directors and officers shall be elected at the annual meeting and take office, following the meeting.

Section 4. Special meetings of the board of Directors may be called or at the request of the president or any five (5) Directors. The person or persons authorized to call special meetings of the Board may fix any place, either within or without the State of South Dakota as the place for holding any special meeting of the board called by them.

Section 5. Notice of any special meeting of the Board of Directors shall be given at least ten (10) days previously thereto by written notice delivered personally or sent by mail to each Director at his/her address as shown by the records of the corporation. If mailed, such notices shall be deemed to be delivered when deposited in the United States mail in a sealed envelope so addressed, with postage thereon prepaid. Any Director may waive notice of any meeting. The attendance of a Director at any meeting shall constitute a waiver of notice of such meeting, except where a Director attends a meeting for the express purpose of objecting to the transaction of any business because the meeting is not lawfully called or convened. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the Board need be specified in the notice of waiver of notices of such meeting, unless specifically required by law or by these Bylaws.

Section 6. A majority of the Board of Directors shall constitute a quorum for the transaction of business at any meeting of the Board; but if less than a majority of the Directors are present at said meeting, a majority of the Directors present may recess or adjourn the meeting to another time without further notice.

Section 7. The act of a majority of the Directors present at a meeting at which a quorum is present shall be the act of the Board of Directors, unless the act of a greater number is required by law or by these Bylaws.

Section 8. Directors, as such, shall not receive any stated salaries for their services, but by resolution of the Board of Directors a fixed sum and expenses of attendance, if any, may be allowed for attendance at each regular or special meeting of the board and reimbursement for other incidental out-of-pocket expenses.

Section 9. Any vacancy occurring in the Board of Directors shall be filled by the board of Directors. A Director elected to fill a vacancy shall be elected for the unexpired term of his predecessor in office.

Section 10. Any action required by law to be taken at a meeting of Directors, or any action which may be taken at a meeting of Directors may be taken without a meeting if a consent in writing, setting forth the action so taken, shall be signed by all of the Directors.

Section 11. The Board of Directors may also appoint nine (9) members to a Board of Advisors which shall serve in an ex-officio capacity with no voting eligibility. Such advisors shall serve at the pleasure of the Board of Directors.