That they should have two stated meetings in the year, and occasional meetings at such times as they should appoint, or on a special call with such notice as themselves shall prescribe by a general rule; which meetings shall be at the University, a majority of them constituting a quorum for business; and that on the death or resignation of a member, or on his removal by the President & Directors of the Literary fund, or the executive or such other authority as the legislature shall think best, such President & Directors or the Executive, or other authority should appoint a successor.
It seems as that only two mandatory meetings a year is very minimal. It does say that there can be occasional meetings in the event that they need one, but it still is lackluster. I cannot think of any formal organization that I have personally been a part of that has only met twice a year. And these groups surely weren't quite as important. In order for a group to be productive and work cohesively, there needs to be more gatherings. Even if they are in a more casual setting, it would certainly help. This goes for any organization.