Department of Finance, Banking and Insurance

Board of Advisors By-Laws

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Article I. Purpose

Section 1. The basic purpose of the Board of Advisors will be to assist in fulfilling the mission of the Department of Finance, Banking and Insurance. The Board of Advisors will assist in setting and accomplishing the goals and objectives of the Department.

Section 2. The objectives of the Board of Advisors shall include the following:

  1. Provide guidance in planning and evaluating the activities and programs of the Department,
  2. Evaluate the curriculum of the Finance and Banking major and provide input as to how it can be strengthened,
  3. Serve as a resource to students both on & off campus through speaking to classes and helping place interns and graduates,
  4. Increase the awareness and interest of the financial services industry in the programs and activities of the Department and the Walker College of Business,
  5. Help to determine the need for additional external financial support and identify sources of financial support when necessary,
  6. Support the Board Scholarship Fund with 100 percent participation by board members,
  7. Assist the faculty and staff of the Department in ongoing efforts to continuously increase the number of students majoring in Finance and Banking and Insurance.

Article II. Membership

Section 1. The Department of Finance, Banking and Insurance Board of Advisors shall at all times have a minimum of nine members and a maximum of twenty-five members. The members shall represent a broad spectrum of the financial services industry. The Board shall at all times be reflective of the diverse segments of the financial services industry with representatives from the following: 1) commercial banking, 2) investment banking, 3) corporate finance, 4) insurance, and 5) other areas as appropriate.

Section 2. The Dean of the Walker College of Business and the Chairperson of the Department of Finance, Banking and Insurance will serve as ex-officio members.

Section 3. One membership position is reserved for a member of the Brantley Risk and Insurance Center Board of Advisors.

Section 4. One membership position is reserved for a recent graduate of the Walker College of Business who was a recipient of the Outstanding Finance and Banking Student Award.

Section 5. Preference for one membership position will be given to a recent graduate of the Walker College of Business who received the Master of Business Administration degree.

Article III. Officers

Section 1. The Board shall have a Chair, who shall be elected by the Board and appointed by the Dean of the John A. Walker College of Business upon the recommendation of the Chairperson of the Department of Finance, Banking and Insurance.

Section 2. The Chair's duties shall include:

  1. Preside at all meetings of the Board.
  2. Work with the Executive Committee in developing the agenda for Board meetings.
  3. Appoint such ad hoc committees as are necessary to conduct the business of the Board.
  4. Assume other duties as necessary for the effective functioning of the Board.

Section 3. The term of the Chair shall be for two years. If elected as Chair on the third year of the membership term, the membership appointment will automatically be extended for one year.

Section 4. The Board shall have a Vice Chair, who shall be elected by the Board and appointed by the Dean of the John A. Walker College of Business upon the recommendation of the Chairperson of the Department of Finance, Banking and Insurance.

Section 5. The Vice Chair's duties shall include:

  1. Preside at meetings of the Board in the absence of the Chair.
  2. Assume such other duties as are necessary for the effective functioning of the Board.

Section 6. The term of the Vice Chair shall be for two years. If elected as Vice Chair in the third year of the membership term, the membership appointment will automatically be extended for one year.

Section 7. The Board shall have a Secretary, who shall be elected by the Board and appointed by the Dean of the John A. Walker College of Business upon the recommendation of the Chairperson of the Department of Finance, Banking and Insurance.

Section 8. The Secretary 's duties shall include:

  1. Record the minutes of each Board meeting.
  2. Assume such other duties as are necessary for the effective functioning of the Board.

Section 9. The term of the Secretary shall be for two years. If elected as Secretary in the third year of the membership term, the membership appointment will automatically be extended for one year.

Section 10. Board Members will not serve in the same officer position for more than two consecutive terms.

Article IV. Standing Committees

Section 1. The Board shall have an Executive Committee.

Section 2. The members of the Executive Committee shall be the Chair of the Board, the Vice Chair of the Board, the Secretary of the Board and the Chairperson of the Department of Finance, Banking and Insurance.

Section 3. The Executive Committee's responsibilities shall include:

  1. Developing the agenda for Board meetings.
  2. Considering special needs of the Department of Finance, Banking and Insurance.

Section 4. The Executive Committee shall meet on a quarterly basis.

Section 5. The Board shall have a Nominating Committee.

Section 6. The members of the Nominating Committee shall include the Chair of the Board, the Chairperson of the Department of Finance, Banking and Insurance, and a member-at-large elected by the Board of Advisors.

Section 7. The Nominating Committee's responsibilities shall include:

  1. Nominating the Chair of the Board.
  2. Nominating the Vice Chair of the Board.
  3. Nominating the Secretary of the Board
  4. Nominating new members of the Board.

Section 8. The Nominating Committee will present its recommendations for Chair, Vice Chair, Secretary and new members to the Board.

Article V. Selection and Term of Board Members

Section 1. New members of the Board of Advisors shall be appointed by the Chancellor of the University upon the recommendation of the Dean of the John A. Walker College of Business, the Chairperson of the Department of Finance, Banking and Insurance and members of the Board of Advisors.

Section 2. The term of appointment of Board members shall be for three years. Any member shall be eligible for reappointment. The term of service will be based on an academic year.

Article VI. Meetings

Section 1. The Board shall hold two regular meetings each year. Special meetings may be called as they are needed.

Section 2. The Chair of the Board shall preside over the meetings.

Section 3. The agenda for each meeting shall be developed by the Executive Committee and shall be distributed to each member prior to the meeting.

Article VII. Amendments

Section 1. The By-laws may be altered or amended at any duly held meeting of the Board. Notice of any proposed change must be on the agenda of the meeting at which the change is to be considered.

Section 2. A three-quarters vote of the members (excluding ex-officio members) present shall be required for an amendment to be passed.

Revised Spring 2013