As per Article VI of the By-laws:
Executive Committee
Section 1. At the first regular meeting of the Board of Directors, following each Annual Election, or as soon as practicable thereafter, they shall elect three of their number, who with the President and the Treasurer, shall constitute the Executive Committee and who shall hold office until their successors shall be elected. The President shall act as Chairman of the Committee. The Executive Committee may act on behalf of the Association in any matter when the Board of Directors is not in session, reporting to the Board of Directors for its ratification of such action at any regular or special meeting.