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of <h1>Clarification on 'Every Three Months' in Section 285: Board Meetings Must Occur Within Each Three-Month Period, No Backward Calculations.</h1> The circular clarifies the interpretation of the term 'every three months' in section 285 concerning the scheduling of board meetings. It distinguishes between 'every' and 'each,' emphasizing that 'every three months' refers to a collective period of three months. Thus, the board of directors can meet on any date within each three-month period, such as January to March, April to June, and so forth. The circular specifies that backward calculations are not applicable, and meetings should occur within the designated three-month intervals.
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