20-A §11484. Advisory Committee on College Savings
Title 20-A: EDUCATION
Part 5: POST-SECONDARY EDUCATION
Chapter 417-E: MAINE COLLEGE SAVINGS PROGRAM HEADING: PL 1997, C. 732, §4 (NEW)
§11484. Advisory Committee on College Savings
The Advisory Committee on College Savings, referred to in this chapter as the "advisory committee," is created to provide advice to the authority on the operation of the program and investment of the program fund. [1997, c. 732, §4 (NEW).]
1. Membership. The advisory committee consists of 7 members as follows:
A. The Treasurer of State, who serves as the chair of the advisory committee; [1997, c. 732, §4 (NEW).]
B. [2001, c. 417, §18 (RP).]
B-1. One member appointed by the Governor with knowledge of student financial assistance; [2001, c. 417, §19 (NEW).]
B-2. One member appointed by the Governor from at large; [2001, c. 417, §19 (NEW).]
C. Two members appointed by the Governor with experience in and knowledge of institutional investment of funds; and [1997, c. 732, §4 (NEW).]
D. Two members appointed by the Governor representing institutions of higher education with experience in and knowledge of higher education financial and investment matters. One member must be appointed to represent public institutions of higher education and one member must be appointed to represent private institutions of higher education. [1997, c. 732, §4 (NEW).]
[ 2001, c. 417, §§18, 19 (AMD) .]
2. Terms. Members must be appointed for terms of 4 years. Members may be removed for cause. The member appointed by the Governor under subsection 1, paragraph B-1 must be appointed for an initial term of 3 years. The member appointed by the Governor under subsection 1, paragraph B-2 must be appointed for an initial term of 4 years.
A. [2001, c. 417, §20 (RP).]
B. [2001, c. 417, §20 (RP).]
[ 2001, c. 417, §20 (RPR) .]
3. Compensation. Members of the advisory committee are compensated in accordance with Title 5, chapter 379.
[ 1997, c. 732, §4 (NEW) .]
SECTION HISTORY
1997, c. 732, §4 (NEW). 2001, c. 417, §§18-20 (AMD).