§ 2831. Membership; vacancies The Corporation shall be governed and all of its powers exercised by a Board of Directors consisting of 11 members. The Governor shall appoint five members as follows: one person to be the financial aid officer of an institution of postsecondary education in the State of Vermont; one person to be […]
§ 2832. Organization and compensation (a) The Board, with the advice and consent of the Governor, shall elect from its members a chair. The Board shall also elect from its members a vice chair and secretary. Each of the officers shall hold office for two years and shall be eligible for reelection. (b) The Board […]
§ 2833. Meetings; quorum The Board shall hold regular meetings and such special meetings as it deems necessary. A majority of the directors shall constitute a quorum for the transaction of any business unless the bylaws of the Corporation require a larger number. (Added 1965, No. 198, § 4(e); amended 2003, No. 86 (Adj. Sess.), […]
§ 2834. Powers and duties (a) The Board has the power to adopt rules, regulations, policies, and procedures not inconsistent with law, governing the application for and the origination, servicing, and repayment of loans, the awarding of grants to students, and the Corporation’s other activities and programs. (b) [Repealed.] (Added 1965, No. 198, § 4(h), […]
§ 2835. Controls, audits, and reports (a) Control of funds appropriated and all procedures incident to the carrying out of the purposes of this chapter shall be vested in the Board. (b) The books of account of the Corporation shall be audited annually by an independent public accounting firm registered in the State of Vermont […]
