year of the term for which the member is appointed. (7) Conflicts of interest Each member of the Board shall, with respect to entities in which the Trust Fund invests, either divest any interest in such entities or place such interests into a blind trust. (8) Meetings (A) In general The Board shall meet no less than once per quarter. (B) Participation by fund managers The fund manager appointed under subsection (c) shall attend not less than 2 meetings of the Board each year, to discuss forecasting and current investment performance. (C) Emergency meeting requirement If, once the assets under management of the Trust Fund have reached $500,000,000,000, the assets under management of the Trust Fund drops below $300,000,000,000, the Board shall immediately hold an emergency meeting to discuss ensuring the long-term solvency of the Trust Fund. (9) Voting Investment guidelines shall be adopted by a unanimous vote of the entire Board. All other decisions of the Board shall be decided by a majority vote. All decisions of the Board shall be entered upon the records of the Board. (10) Compensation While serving on the business of the Board (including travel time), a member of the Board shall be entitled to compensation at the per diem equivalent of the rate provided for level IV of the Executive Schedule under section 5315 of title 5, United States Code, and while so serving away from home and the member’s regular place of business, a member may be allowed travel expenses, as authorized by the Chair of the Board. (c) Powers and responsibilities of the Board (1) Appointment of fund managers (A) In general The Board shall appoint independent fund managers from among individuals who have met such ethics vetting requirements as the Board may establish. (B) Failure to make a unanimous appointment If the Board fails to make an appointment under subparagraph (A), the Chair shall, not later 10 days after the date of such failure, make the appointment. (C) Initial fund managers The Board shall make the initial appointment of