| 5.__Executive committee. The executive committee is composed |
| of the chairman of the governing board and 4 additional members |
| of the governing board chosen by the governing board so that |
| there is one member representing each of 4 geographic groupings |
| of party states.__The governing board shall make those geographic |
| groupings. If there is representation of the United States on the |
| governing board, one representative may meet with the executive |
| committee. The chair of the governing board is chair of the |
| executive committee. An action of the executive committee is not |
| binding unless taken at a meeting at which at least 4 members of |
| the committee are present and vote in favor thereof. Necessary |
| expenses of each of the 5 members of the executive committee |
| incurred in attending meetings of the committee, when not held at |
| the same time and place as a meeting of the governing board, are |
| charges against the insurance fund. |