(A) The board shall meet in Conway not less than four times each year, the time and place to be fixed by the chairman or as the board provides. The chairman shall preside and, in his absence, a member shall preside as the board may select. The chairman or a majority of the members has the power to call a special meeting and fix the time and place of the meeting. A majority of the members constitutes a quorum for the transaction of all business of the board. A majority vote of the whole board is required for the election or removal of the president. The president, other officers, and faculty members shall attend meetings of the board when requested to do so.

(B) Notice of the time and place of all meetings of the board must be sent either electronically or through the United States mail by the secretary or his assistant to each trustee not less than five days before each meeting.