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In case of absence, resignation or disqualification the first Vice-President shall assume the responsibilities of the President and shall be one of the alternate signing authorities at the Association Banking Institution. The first Vice-President shall be the Chairman of the Policy Committee. In the absence of the first Vice-President, the second Vice-President shall assume the responsibilities of the President. In the absence of the President, first Vice-Present and second Vice-President, the third Vice-President shall assume the responsibilities of the President. In the absence of all of the foregoing a Chairman may be elected from the Executive and ratified by a majority vote to preside.