Section 1. Committees of the Board. The Board may, by resolution adopted by the decision-making procedure as outlined in Article 2, Section 8 of these By Laws, establish and appoint other standing committees. Each committee so appointed shall consist of one or more Trustees and, to the extent provided in the resolution establishing it, shall have only the powers specifically delegated to them by the board.

At all times there shall exist a Fund Development Committee and a Finance Committee, who shall have only the powers specifically delegated to them by the Board.

Ad Hoc Committees may be appointed by the Board and shall have only the powers specifically delegated to them by the Board.