Trust established--board of directors, appointment, qualifications,terms, vacancies, expenses, appointment of chairman, president andvice president, duties--quorum--meetings.
166.203. 1. There is hereby created the "Missouri Accessto Higher Education Trust", which shall be a body corporate andpolitic. The trust shall be located within the state office ofadministration, but shall exercise its prescribed powers,duties, and functions independently. The trust shall begoverned by a board of directors which shall consist of tenmembers with knowledge, skill, and experience in the academic,business, or financial field appointed by the governor, by andwith the advice and consent of the senate. Not more than threemembers of the board shall be, during their term of office onthe board, either officials, appointees, or employees of thisstate, except that at least one member shall be appointed from aminority group. Of the remaining seven members appointed by thegovernor, one shall be appointed from a nominee of the speakerof the house of representatives, one shall be appointed from anominee of the president pro tem of the senate, one shall be apresident of a public four-year college or university, one shallbe a president or chancellor of a public community college, oneshall represent the interests of Missouri independentdegree-granting colleges and universities, and one shall be thecommissioner of higher education. Of these remaining sevenmembers, at least one shall be a member of a minority group.Members shall be appointed for a term of three years; exceptthat, of the members first appointed, three shall be appointedfor a term of one year, three shall be appointed for a term oftwo years, and four shall be appointed for a term of threeyears. A member shall serve until a successor is appointed andqualified, and a vacancy shall be filled for the balance of theunexpired term in the same manner as the original appointment.The governor shall designate one member as chairperson. Thegovernor shall also designate one member as the president andchief executive officer of the trust and one member as the vicepresident of the trust. Members of the board, other than thepresident and vice president if they are not otherwise employeesof the state, shall receive no compensation, but shall bereimbursed for their actual and necessary expenses incurred inthe performance of their duties.
2. The board may delegate to its president, vice president,or other member such functions and authority as the boardconsiders necessary or appropriate. These functions mayinclude, but are not limited to, the oversight and supervisionof employees of the trust.
3. A majority of the members of the board serving shallconstitute a quorum for the transaction of business at a meetingof the board, or the exercise of a power or function of thetrust, notwithstanding the existence of one or more vacancies.Voting upon action taken by the board shall be conducted bymajority vote of the members present at a meeting of the board,and, if authorized by the bylaws of the board and when a quorumis present in person at the meeting, by use of amplifiedtelephonic equipment. The board shall meet at the call of thechair and as may be provided in the bylaws of the trust.Meetings of the board may be held anywhere within the state.
Trust established--board of directors, appointment, qualifications,terms, vacancies, expenses, appointment of chairman, president andvice president, duties--quorum--meetings.
166.203. 1. There is hereby created the "Missouri Accessto Higher Education Trust", which shall be a body corporate andpolitic. The trust shall be located within the state office ofadministration, but shall exercise its prescribed powers,duties, and functions independently. The trust shall begoverned by a board of directors which shall consist of tenmembers with knowledge, skill, and experience in the academic,business, or financial field appointed by the governor, by andwith the advice and consent of the senate. Not more than threemembers of the board shall be, during their term of office onthe board, either officials, appointees, or employees of thisstate, except that at least one member shall be appointed from aminority group. Of the remaining seven members appointed by thegovernor, one shall be appointed from a nominee of the speakerof the house of representatives, one shall be appointed from anominee of the president pro tem of the senate, one shall be apresident of a public four-year college or university, one shallbe a president or chancellor of a public community college, oneshall represent the interests of Missouri independentdegree-granting colleges and universities, and one shall be thecommissioner of higher education. Of these remaining sevenmembers, at least one shall be a member of a minority group.Members shall be appointed for a term of three years; exceptthat, of the members first appointed, three shall be appointedfor a term of one year, three shall be appointed for a term oftwo years, and four shall be appointed for a term of threeyears. A member shall serve until a successor is appointed andqualified, and a vacancy shall be filled for the balance of theunexpired term in the same manner as the original appointment.The governor shall designate one member as chairperson. Thegovernor shall also designate one member as the president andchief executive officer of the trust and one member as the vicepresident of the trust. Members of the board, other than thepresident and vice president if they are not otherwise employeesof the state, shall receive no compensation, but shall bereimbursed for their actual and necessary expenses incurred inthe performance of their duties.
2. The board may delegate to its president, vice president,or other member such functions and authority as the boardconsiders necessary or appropriate. These functions mayinclude, but are not limited to, the oversight and supervisionof employees of the trust.
3. A majority of the members of the board serving shallconstitute a quorum for the transaction of business at a meetingof the board, or the exercise of a power or function of thetrust, notwithstanding the existence of one or more vacancies.Voting upon action taken by the board shall be conducted bymajority vote of the members present at a meeting of the board,and, if authorized by the bylaws of the board and when a quorumis present in person at the meeting, by use of amplifiedtelephonic equipment. The board shall meet at the call of thechair and as may be provided in the bylaws of the trust.Meetings of the board may be held anywhere within the state.
Trust established--board of directors, appointment, qualifications,terms, vacancies, expenses, appointment of chairman, president andvice president, duties--quorum--meetings.
166.203. 1. There is hereby created the "Missouri Accessto Higher Education Trust", which shall be a body corporate andpolitic. The trust shall be located within the state office ofadministration, but shall exercise its prescribed powers,duties, and functions independently. The trust shall begoverned by a board of directors which shall consist of tenmembers with knowledge, skill, and experience in the academic,business, or financial field appointed by the governor, by andwith the advice and consent of the senate. Not more than threemembers of the board shall be, during their term of office onthe board, either officials, appointees, or employees of thisstate, except that at least one member shall be appointed from aminority group. Of the remaining seven members appointed by thegovernor, one shall be appointed from a nominee of the speakerof the house of representatives, one shall be appointed from anominee of the president pro tem of the senate, one shall be apresident of a public four-year college or university, one shallbe a president or chancellor of a public community college, oneshall represent the interests of Missouri independentdegree-granting colleges and universities, and one shall be thecommissioner of higher education. Of these remaining sevenmembers, at least one shall be a member of a minority group.Members shall be appointed for a term of three years; exceptthat, of the members first appointed, three shall be appointedfor a term of one year, three shall be appointed for a term oftwo years, and four shall be appointed for a term of threeyears. A member shall serve until a successor is appointed andqualified, and a vacancy shall be filled for the balance of theunexpired term in the same manner as the original appointment.The governor shall designate one member as chairperson. Thegovernor shall also designate one member as the president andchief executive officer of the trust and one member as the vicepresident of the trust. Members of the board, other than thepresident and vice president if they are not otherwise employeesof the state, shall receive no compensation, but shall bereimbursed for their actual and necessary expenses incurred inthe performance of their duties.
2. The board may delegate to its president, vice president,or other member such functions and authority as the boardconsiders necessary or appropriate. These functions mayinclude, but are not limited to, the oversight and supervisionof employees of the trust.
3. A majority of the members of the board serving shallconstitute a quorum for the transaction of business at a meetingof the board, or the exercise of a power or function of thetrust, notwithstanding the existence of one or more vacancies.Voting upon action taken by the board shall be conducted bymajority vote of the members present at a meeting of the board,and, if authorized by the bylaws of the board and when a quorumis present in person at the meeting, by use of amplifiedtelephonic equipment. The board shall meet at the call of thechair and as may be provided in the bylaws of the trust.Meetings of the board may be held anywhere within the state.
