; and (B) take such actions as are necessary— (i) to incorporate the Foundation; (ii) to establish the bylaws of the Foundation; (iii) to establish the general policies of the Foundation for carrying out the purpose described in subsection (b)(1); and (iv) to appoint the members of the Board in accordance with subsection (c)(1)(C)(ii). (2) Quorum A majority of the members of the Board shall constitute a quorum for purposes of conducting the business of the Board. (e) Certain bylaws (1) In general The Board shall include in the bylaws of the Foundation established under subsection (d)(1)(B) the following policies: (A) Policies for the selection of the officers, employees, agents, and contractors of the Foundation. (B) Policies, including ethical standards, for the acceptance, solicitation, and disposition of gifts, grants, and other donations to the Foundation, which shall require that— (i) officers, employees, agents, and contractors of the Foundation (including members of the Board) avoid encumbrances that would result in a conflict of interest, including a financial conflict of interest or a divided allegiance