Sec. 4.4  Except as otherwise provided by law, these By-Laws, or the Delegation Plan, Directors of FINRA Regulation shall be elected each year at the annual meeting of the stockholder, or at a special meeting called for such purpose in lieu of the annual meeting.

Sec. 4.3  (a) The Board shall consist exclusively of members of the FINRA Board. The number of Public Directors shall exceed the number of Industry Directors. The Chairman of the FINRA Board and the Chief Executive Officer of FINRA shall be ex-officio non-voting members of the Board.

Sec. 4.2  The Board shall consist of no fewer than five and no more than seventeen Directors, the exact number of Board members will be determined by resolution adopted by the stockholder of FINRA Regulation from time to time.

Sec. 4.1  The property, business, and affairs of FINRA Regulation shall be managed by or under the direction of the Board.

Sec. 3.1  Any action required or permitted by law to be taken at any meeting of the stockholder of FINRA Regulation may be taken without a meeting, without prior notice and without a vote, if a consent in writing, setting forth the action so taken, is signed by the holder of the outstanding stock.

Sec. 2.2  In the manner permitted by law, the Board or the registered agent may change the address of FINRA Regulation's registered office in the State of Delaware and the Board may make, revoke, or change the designation of the registered agent.

Sec. 2.1  The address of the registered office of FINRA Regulation in the State of Delaware and the name of the registered agent at such address shall be: Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington, New Castle County, Delaware 19808.