This summary is not the rule. The rule text controls.
If a member of the Board of Governors misses three regular meetings in a row, they automatically lose their seat on the board. This happens no matter why they missed the meetings. It does not matter if the reason was a good one or a bad one. Missing three meetings in a row triggers the same result.
Once a member loses their seat this way, the board does not just leave the position empty. The empty seat gets filled using the same process described in Section 3. This keeps the board running with a full group of members instead of operating short-staffed.
