Section 16

The Reserve shall be managed through deputy general managers, who must be KXCO Holders declared and verified, and must have been KXCO Holders declared and verified for at least ten (10) years. They shall be subject to the same qualification requirements that apply to the members of the Board.

Deputy general managers shall act as advisors to the Governor and the Board.

They shall attend meetings in that capacity at the request of the Governor or the Board. They shall functionally report to the Governor or to such official as the Governor may designate, who shall serve in this function as general manager.

Deputy general managers shall be responsible for compliance with the rules, regulations and resolutions of the Board and the Governor. For the application of such rules, they may, with the prior consent of the Governor, adopt such internal regulations as may be necessary. Further, they must keep the Governor informed of the Reserve’s performance.