(1) The board of directors of a State Food Corporation shall meet at such times and places and shall observe such rules of procedure in regard to the transaction of business at its meetings (including the quorum at meetings) as may be provided by regulations made by that Corporation under this Act.
     (2) The Chairman of the board of directors, or, if for any reason he is unable to attend any meeting, any other member of the board elected by the members of the board present at the meeting, shall preside at the meeting.
     (3) All questions which come up before any meeting of the board of directors shall be decided by a majority of the votes of the members present and voting, and in the event of an equality of votes, the Chairman or in his absence, the person presiding shall have and exercise a second or casting vote.