This committee shall be composed of five (5) or more Participants and Subscribers appointed by the President of the Corporation. The chair of the committee shall also be appointed by the President to preside over all meetings of the Contracts and Forms Committee.  It shall be the duty of this committee to meet for the purpose of reviewing and revising all OKCMAR and OREC forms and contracts, and to recommend any new forms and contracts, subject to approval by the Board of Directors.