Constitution
Revised November 8, 2006
- Table of Contents
Article I - NAME
The name of this corporation shall be the NEW JERSEY ASSOCIATION
OF STUDENT FINANCIAL AID ADMINISTRATORS, INC., herein known as
the Association.
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Article II - PRINCIPAL
OFFICE
Section 1: The principal office of the Association,
a non-profit corporation incorporated under the laws of the State
of New Jersey, shall be in the State of New Jersey.
Section 2: The Association may have such other
office or offices at such suitable place or places within the
State of New Jersey as may be designated from time to time by
the Association's Executive Council.
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Article III -
PURPOSE
The purposes for which this Corporation is formed are to promote,
establish, maintain and operate educational programs; to educate
and train administrators and counselors of student financial
aid programs on issues dealing with the obtaining of financial
aid by a student and/or by a student's family; to educate the
community and public at large; and to work with and cooperate
with other organizations having similar objectives and provisions
as stated above, and to carry on any and all programs allowable
by law for a corporation formulated and existing in accordance
with applicable law. The corporation shall not conduct activities
of any kind or nature that are not permitted under Section 501(c)(3)
of the Internal Revenue Code.
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Article IV - MEMBERSHIP
Section 1: There shall be two classifications
of membership in this Association: active membership and associate
membership. All memberships require an application and payment
of dues for the current year.
Section 2: Active membership shall be limited
to student financial aid administrators in post-secondary educational
institutions in New Jersey. Active members are entitled to vote
on all matters brought before the Association, and hold any office
in the Association.
Section 3: Associate membership shall be open
to out of state student financial aid administrators, representatives
of governmental agencies, secondary educational institutions,
foundations, and private and community organizations interested
in student financial aid matters. Other persons concerned with
or interested in student financial aid are encouraged to become
associate members. Associate members are entitled to vote on
any matters brought before the Association. Associate members
may hold up to one council person at large position.
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Article V - OFFICERS
Section 1: The officers of this Association
shall consist of President, President-Elect, Vice President,
Treasurer, Past-Treasurer and Secretary. The officers must be
active members of the Association.
Section 2: The President-Elect shall succeed
to the Presidency. The Treasurer will succeed to the Past-Treasurer.
Section 3: The officers shall be elected every
year, as specified in the Bylaws. The Vice-President and the
Secretary may succeed themselves for one additional term.
Section 4: The term of office of each officer
shall be for one (1) year, from June 1 to May 31, inclusive.
Section 5: The duties of officers shall be
as specified in the Bylaws and in the parliamentary authority
adopted by the Association insofar as the latter does not conflict
with the former.
Section 6: Vacancies shall be filled as specified
in the Bylaws.
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Article VI - EXECUTIVE
COUNCIL
Section 1: The Executive Council shall consist
of:
-
the elected officers of the Association;
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four council persons elected at large;
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3. and immediate Past-President and Past-Treasurer.
The four council persons shall serve for one year beginning June
1 to May 31 inclusive.
Section 2: The Executive Council shall act on
behalf of the Association between meetings and report all actions
to the membership.
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Article VII -
MEETINGS
Section 1: Meetings of the Association shall
be held at least once a year on the dates and at the places determined
by the Executive Council. Notice of all meetings shall be mailed
to all members eligible to attend at least fifteen (15) days before
the meeting.
Section 2: One-fourth of the eligible voting
members of the Association shall constitute a quorum at any meeting
of the Association.
Section 3: The Executive Council shall be empowered
to hold such meetings as it may determine. Meetings may be called
by the President or by petition of three (3) members of the Executive
Council.
Section 4: One-fourth of the eligible voting
members may call a meeting by petition to the President who must
call a meeting within thirty (30) days of the receipt of the petition.
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Article VIII
- DISSOLUTION OR FINAL LIQUIDATION
Dissolution or final liquidation of the Association shall take
place and the distribution of assets shall proceed as provided
in the Association's Articles of Incorporation.
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Article IX - SHARES
OF STOCK, DIVIDENDS, AND CERTAIN LOANS PROHIBITED
The Association shall not authorize or issue shares of stock,
not obtain any dividends, nor make any loans to its member organizations,
members of the Executive Council, officers, agents, or employees.
The Executive Council shall have the authority to make investments
for the Association in Certificates of Deposit, Money Market
funds and Savings Accounts to secure a fair return on retained
earnings to be used for non-profit endeavors, such as for scholarships
and Association related activities. The Executive Council, at
any regular meeting, shall direct the Treasurer to manage these
investments as needed.
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Article X - LIMITATION
OF ACTIVITIES
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 distributions
in furtherance of its purposes 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 as an organization described in
Code Section 501(c)(3), (or corresponding provisions of any future
United States Internal Revenue laws). No substantial part of
the activities of the corporation shall be the carrying on of
propaganda or otherwise attempting to influence legislation,
except that the corporation may elect to have provisions of Section
501(h) of the Internal revenue Code of 1954 (or corresponding
provision of any future United States Internal Revenue law) apply
with respect to such activities.
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Article XI - AMENDING
THE CONSTITUTION
This Constitution may be amended by a two-thirds majority of
the current membership in attendance at a regularly called meeting,
or by a mailed ballot of the entire membership, in which case
two-thirds of the ballots cast within 20 days of the mailing
constitute a majority, provided that each amendment shall have
been proposed in writing to the Secretary: (a) by the Executive
Council, or (b) by a committee authorized by the Association,
or (c) by a petition of one-fourth of the eligible voting members
of the Association; and provided further, that a copy of the
proposed amendment shall have been mailed to each voting member
of the Association at least fifteen (15) days before the vote
is called by the Executive Council.
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