(Revised March 2017)

Article I

The name of this organization shall be "The North Carolina Association of Student Financial Aid Administrators, Inc."

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The principal office of the Association, a non-profit corporation incorporated under the laws of the State of North Carolina, shall be in Raleigh, North Carolina.

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The purpose for which the corporation is organized, subject to the limitations of Article XVI:

Section 1. To develop and strengthen the professional competency of student financial aid administrators employed by North Carolina postsecondary institutions, agencies, and private and community organizations.

Section 2. To promote the strengthening and enhancing of programs of student financial aid to the end that no qualified person desirous of a postsecondary education shall be denied that opportunity due to a lack of financial resources.

Section 3. To facilitate communication among educational institutions, agencies, and sponsors of student assistance funds, through the exchange of ideas, information, and the performance of such studies as may be appropriate.

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Section 1. There shall be three (3) categories of membership of the Association, active, associate and honorary.
  1. Active membership in the Association shall be open to persons employed by North Carolina colleges, universities, community colleges, technical institutes, proprietary institutions, government agencies, and private and community organizations concerned with the not-for-profit administration of student financial aid programs. Active members shall have voice and vote at all meetings of the Association and shall be able to run for office and chair committees.
  2. Associate members shall be all other persons interested in the support of student financial aid. Associate members shall have voice and vote in all meetings of the Association, but may not hold an office.
  3. Recipients of Retirement Recognition Awards receive lifetime memberships without voting privileges.

Section 2. Associate and active categories of membership in the Association and continuance of such membership shall be contingent upon the payment of annual dues, which may be included in agency support as defined in the Policy and Procedures manual.

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Section 1. The Association shall meet annually at a time and place to be chosen by the President and Executive Board.

Section 2. A majority of voting members who have been registered as attending the meeting shall constitute a quorum.

Section 3. The President shall have the power to call special meetings of the Association upon the occurrence of events, which, in his/her judgment warrants the consideration and attention of the Association. Such special meetings shall be confined to the principal business for which the special meeting was called. A quorum of members, as prescribed by the parliamentary authority of Article XVII, shall be required for any action so taken at such special meetings. He/she shall give the membership a thirty-(30) day notice for called meetings.

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Article VI - FINANCE

Section 1. The fiscal year of the Association shall be from July 1 to June 30.

Section 2. Income shall be derived from membership dues and such other sources as the Executive Board approves.

Section 3. Dues shall be assessed and collected in such amounts and in such manner as may be prescribed by the Executive Board. However, any proposal for an increase in the dues of the Association shall be circulated in writing to all members of the Association affected by such proposal at least thirty (30) days prior to the annual meeting and shall be effective only if approved by a majority of active and associate (or voting) members voting at such annual meeting.

The Membership Chair shall forward membership forms for the upcoming year to all NCASFAA members and potential members prior to June 30. Members will have a two-month grace period to renew their membership by paying the required membership fee. Individuals who fail to pay their membership fee prior to September 1 will be dropped from the NCASFAA membership and forfeit all rights and privileges of membership. The Membership Chair shall notify individuals in writing when their membership has been terminated.

Section 4. The books of the Association shall be audited at the conclusion of the Association's fiscal year in the manner prescribed by the Executive Board.

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Section 1. The Executive Board may authorize any officer or officers of the Association to enter into any contract or execute and deliver any instrument in the name of and on behalf of the Association and such authority may be general or confined to specific instances.

Section 2. All checks, drafts or orders for the payment of money, notes or other evidence of indebtedness issued in the name of the Association will be signed by the Treasurer or by the President.

Section 3. All funds of the Association shall be deposited to the credit of the Association in such banks; trust companies or other depositories as the Executive Board may select.

Section 4. The Executive Board may accept on behalf of the Association any contribution, gift, bequest, or device for the general purpose or for any special purpose of the Association.

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The leadership and administrative responsibility of the Association shall be vested in the elected officers, members at large, the standing committee chairpersons and such other persons holding appointive positions as may, in the judgment of the President, serve the interests of the Association.

Section 1. The officers of the Association shall consist of a President, a Vice President, a President-Elect, a Secretary, a Treasurer-Elect, and a Treasurer elected by the active membership of the Association. Officers so elected are eligible to hold office only so long as they continue to meet the conditions of voting membership as defined in Article IV, Section 1. This group, along with the immediate past president, shall serve as the Board of Directors of NCASFAA, Inc.

Section 2. There shall be an Executive Board which shall consist of the elected officers, the immediate past president, members at large, and the chairpersons of standing committees listed in Article X of the Bylaws and chairpersons of other committees as deemed appropriate and established by the President with the advice and consent of the elected officers of the Association.

Section 3. The elected officers shall be subject to the order of the Association and may be removed from office by a two-thirds vote (a quorum of voting members being present), provided that the reasons for removal shall have been submitted to the membership in writing at least thirty (30) days in advance of the meeting at which such removal is considered. Appointed positions in the Association shall be subject to the order of the Executive Board and may remove by two-thirds vote (a quorum of board members being present) of the Executive Board upon finding by the Board that just cause exists for such removal.

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Section 1. The president shall be the chief executive officer of the Association and shall:
  1. Preside at all meetings of the Association;
  2. Serve as chairman of the Executive Board;
  3. Have the authority to create ad hoc committees and appoint all chairpersons and members of the committee unless otherwise provided in the Bylaws or voted upon by the Executive Board;
  4. Serve as the NCASFAA representative to the Regional SASFAA Executive Board;
  5. Serve, ex-officio, on all committees except the Nominations Committee;
  6. Authorize all expenditures of the Association;
  7. Submit an Annual Report, including a fiscal statement, to the Association;
  8. Serve as the chairperson on the Board of Directors.
Section 2. The Vice President shall be the liaison between the Association and new members and shall:
  1. Coordinate the mentor relationship essential for new members;
  2. Coordinate the development and annual revision of information for new financial aid administration;
  3. Perform all duties of the President in the absence of that officer;
  4. Succeed to the office of President in the event of vacancy in that office.
Section 3. The President-Elect shall be the understudy to the President.
Section 4. The Secretary shall be the recorder of the Association and the custodian of its records and shall:
  1. Take, or arrange to have taken, and keep in permanent form the minutes of the Executive Board;
  2. Receive and file copies of the official annual membership list, the official list of the Executive Board members, the proceedings of each meeting of the Association, and all workshop projects, and committee reports;
  3. Keep a current file of all official documents and publications of the Association;
  4. Transfer to the Archives annually all of the official documents and publications of the Association;
  5. Keep a procedures manual as directed by the Association and/or Executive Board;
  6. Prepare and distribute to the membership all proposed resolutions and amendments to the Constitution or Bylaws.
Section 5. The Treasurer shall be the Finance Director of the Association and shall:
  1. Be responsible for receiving and disbursing all monies of the Association and following the Association's financial policy as approved by the Executive Board;
  2. Keep adequate, accurate, and appropriate records of financial transactions as they relate to the operations of the Association;
  3. In conjunction with the Budget and Finance Committee submit an estimated budget to the Executive Board prior to the annual business meeting;
  4. Submit the Associations records to an annual audit by an Audit Committee composed of voting Association members within sixty (60) days following the close of the fiscal year;
  5. Turn over to his/her successor not later than ninety (90) days from the completion of the term all financial records of the Association;
  6. Be bonded at the expense of the Association prior to taking office;
  7. Submit a report to the Association prior to each meeting and submit to the Executive Board at each meeting a current Treasurer's report showing the status of all financial accounts held in the name of the Association.
  8. Report to the membership, not later than ninety (90) days after the fiscal year, a financial accounting of the affairs of the Association for previous fiscal years.
Section 6. The Past President shall:
  1. Serve as the NCASFAA representative to the SASFAA Nominations Committee;
  2. Serve as chairperson of the Professional Recognition Committee;
  3. Be responsible for archiving NCASFAA records for the year the Past President served as President.
  4. Serve as the Parliamentarian of the Association.
  5. Serve as chairperson of the Nominations Committee, without vote.

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Section 1. The Executive Board shall include the elected officers, the immediate past president, members at large and the chairpersons of the following standing committees: Budget and Finance, Diversity Issues, Exhibitors, Legislative Advisory, Membership, Nominations and Elections, Professional Advancement, Professional Recognition, Program, Publicity and Publications, Site Selection, State and High School Relations and Technology.

Section 2. Duties of the ad hoc committees shall be directed and defined by the President with the approval of the Executive Board. Prescribed duties of each committee shall be a part of the Procedures Manual of the Association. Chairpersons for these committees may be asked to serve on the Executive Board, but such service is not mandatory.

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The Corporation shall indemnify any officer, director or member against expenses actually incurred in connection with the defense of any action, suit, or proceeding in which he is made a party by reason of his being or having been an officer, director or member of the Corporation.

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From time to time it may be desirable to bind the Association's action through written resolution. Such resolutions may be adopted by a two-thirds vote of the Association (a quorum of voting members being present). The Secretary of the Association shall maintain a list of operation resolutions in the form of a procedure manual.

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Section 1. Officers of the Association shall be elected from a slate of candidates proposed by a Nominating Committee, which shall be elected by the voting membership. The Committee shall propose in writing a slate of officers to the membership thirty (30) days prior to the annual meeting.

Section 2. The Nominating Committee shall consist of a member representative of each recognized institutional type in the Association. Members of the Nominating Committee shall serve for a two- (2) year term on a rotating basis. Representatives from the four (4) year public institutions, independent institutions and agencies shall be elected in odd years. Representatives from the two- (2) year public institutions and the proprietary institutions shall be elected in even years.

The Nominating Committee shall present to the membership at the annual meeting a recommendation for Nominating Committee members. They shall be elected by the voting membership at the annual meeting.

The Chairperson of the Nominating Committee shall be the immediate Past-President of the Association. The Chairperson shall be an added member to the five sector representatives and shall not have a vote. Nominating Committee vacancies shall be filled by the President by appointing a representative from the same institutional type as that represented by the individual vacating the position.

Section 3. The election of officers shall be by secret ballot. Absentee ballots shall be provided by the Nominating Committee Chairperson upon request of voting members in good standing. In the event there is only one individual nominated for the office, the membership may elect that person by acclamation.

Section 4. The President-Elect and Vice President of the Association shall be elected at the annual meeting and shall serve in such capacity for a term of one (1) year or until their successors take office. They shall take office July 1 following their election to such office. The President-Elect shall automatically succeed to the office of President upon expiration of the term of the office of the President and the term of the President-Elect. The Treasurer-Elect of the Association shall be elected for a term of one (1) year. The Secretary of the Association shall be elected for a term of two (2) years. The Treasurer-Elect shall automatically succeed to the office of Treasurer for a two (2) year term upon expiration of the term of the office of the Treasurer and the term of the Treasurer-Elect. Election of the Treasurer-Elect and Secretary shall take place at the annual meeting prior to the date they are to enter office. The President-Elect and the Vice President shall be elected from the membership of the Association and shall not be eligible for re-election to a successive term in the same office. The Secretary and Treasurer of the Association shall be eligible for re-election to two (2) terms of office not in succession.

Section 5. The President shall fill any vacancies occurring in the positions of Vice President, President-Elect, Secretary and Treasurer between annual meetings of the Association for remainder of such term, by appointment with confirmation by majority vote of the Executive Board membership. Appointment to a vacancy in the office of President-Elect shall require confirmation by a majority vote of the membership at the next meeting following such appointment and prior to succession to the office of President.

Section 6. In the event a candidate does not receive more than fifty (50) percent of the votes cast, there will be a run-off election for the position involving the two candidates. Balloting shall be conducted using printed ballots, and balloting shall take place at the beginning of the last business session of the annual meeting.

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Dissolution or final liquidation of the Association shall take place and the distribution of assets shall proceed as provided in Article IX of the Association's Article of Incorporation.

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The Association shall not authorize or issue shares of stock, obtain any dividends, nor make any loans to its member organizations, members of the Executive Board, officers, agents, or employees.

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The Association shall not be operated for profit (except that the Association shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distribution in furtherance of its purpose as set forth in Article III, hereof). The Association shall not directly or indirectly participate in, or intervene in (including the publishing or distribution of statements), any political campaign on behalf of or in opposition to any candidate for public office. Notwithstanding any provisions in these Bylaws or in the Association's Articles of Incorporation, the Association shall not carry on any activities not permitted to be carried on by an organization exempt from federal income taxation under Section 501(a) of the Internal Revenue Code of 1954 (or the corresponding provision of any future United States internal revenue law) apply with respect to such activities.

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The rules contained in the current edition of Robert's Rules of Order Newly Revised shall govern the Association in all cases in which they are applicable of Incorporation and any special rules of order the Association may adopt.

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The Bylaws of the Association may be amended or revised by resolution after such resolution shall have been considered and voted upon a quorum of Executive Board members present, with a quorum being defined as a majority of the executive board members. The Executive Board shall report its recommendation to the membership as to the adoption or rejection of any such proposed amendment or revision. A proposed amendment or revision may then be voted upon by voting membership such resolution in the event of a negative recommendation from the Executive Board. Any such resolution may be adopted by majority vote of the voting members present and voting at the business meeting in which such resolution sh