A meeting of the Board shall be held each month at the Maryland Department of Labor for the purpose of acting upon applications and conducting other business, except that a specific meeting may be cancelled by the consent of the Board. The regular meeting held in the month of July shall be designated the Annual Meeting. At this meeting, Board officers shall be elected for the fiscal year beginning July 1. If the July meeting is cancelled, the next regular meeting shall be designated the Annual Meeting. Special meetings, in addition to the regular meetings, may be held at any time or location at the discretion of the Board. A special meeting may be called by the Board or by the Chairman.