(40 ILCS 5/8-196) (from Ch. 108 1/2, par. 8-196)
    Sec. 8-196. Board meetings.
    The board shall hold regular meetings in the months of March, June, September and December annually and special meetings as it deems necessary. A majority of the members shall constitute a quorum for the transaction of business at any meeting, but no annuity or benefit shall be granted or payments made by the fund unless ordered by a vote of a majority of the board members.
(Source: Laws 1963, p. 161.)