; (ii) shall not affect the power of the remaining appointed members to execute the duties of the Board; and (iii) shall be filled by an individual selected by the Board. (5) Meetings; quorum (A) Initial meeting Not later than 60 days after the date on which all of the members of the Board have been appointed, the Secretary shall convene a meeting of the ex officio and appointed members of the Board to establish the bylaws of the Foundation in accordance with paragraph (7). (B) Quorum A majority of the appointed members of the Board shall constitute a quorum for purposes of conducting the business of the Board. (6) Duties The Board shall— (A) provide overall direction for the activities of the Foundation and establish priority activities; (B) provide guidance to the Executive Director such that the Executive Director may carry out any other necessary activities of the Foundation; (C) evaluate the performance of the Executive Director; and (D) actively solicit and accept funds, gifts, grants, devises, or bequests of real or personal property to the Foundation, including from private entities. (7) Bylaws (A) In general The bylaws established under paragraph (5)(A) may include— (i) policies for the selection of Board members and officers, employees, agents, and contractors of the Foundation; (ii) policies, including ethical standards, for— (I) the acceptance, solicitation, and disposition of donations and grants to the Foundation, including appropriate limits on the ability of donors to designate, by stipulation or restriction, the use or recipient of donated funds; and (II) the disposition of assets of the Foundation; (iii) policies that subject all employees, fellows, trainees, contractors, consultants, and other agents of the Foundation (including ex officio and appointed members of the Board) to conflict of interest standards