Article 6.- The Associates will have the following rights and obligations:

a) To be represented in the Assembly;

b) To participate in the election of the Board of Directors; as well as having their representatives elected as Directors, except that Associate Members from the Non-Regional Group shall not have the right to serve as a Director or to participate in the election of Directors other than the Chairman and Vice-Chairman unless the group has at least three members.

c) To have access to the activities and services organized by the Association in accordance with the programs approved by the Board of Directors; and

d) To provide the Association with effective assistance in fulfilling its purposes.

IV. Internal Organization

Article 7.- The corporate bodies of the Association are the following:

a) The Assembly;

Approved on IX Annual Assembly Meeting 2 of 9ASSOCIATION OF SUPERVISORS OF BANKS OF THE AMERICAS A.C. BY-LAWS

b) The Board of Directors; and

c) The Secretary General.

Article 8.- The Assembly is the supreme authority of the Association and will include all the Associate Members. The Assembly will meet at least once a year, and extraordinarily when summoned by the Chairman of the Board of Directors.

The Assembly will meet in a location agreed upon by the Board of Directors, with previous written notice. The Chairman will preside over the Assembly, and in his/her absence the Vice-Chairman will carry out these responsibilities.

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