Section 3. Term of Office.

The term of office of the circuit members, and the nonresident members, and the appointed members of the Board of Governors shall be for two years; the word "year" as used here shall mean the period from the adjournment of an annual meeting until the adjournment of the next annual meeting of the members. Each circuit member, and nonresident member, and appointed member shall continue to serve until the term for which the member was elected has expired, and until a successor has been elected or appointed. Notwithstanding the above, the Board may adopt attendance requirements which condition or terminate the term of a Board member for failure to attend Board meetings.