Chapter 417-A: MAINE EDUCATIONAL LOAN AUTHORITY HEADING: PL 1987, C. 807, §3 (NEW)
There are 7 members of the authority, 6 of whom must be appointed by the Governor, subject to review by the joint standing
committee of the Legislature having jurisdiction over economic development matters and confirmation by the Legislature.
2005, c. 397, Pt. C, §12 (AMD)
Each member must be a resident of this State. One member must be the Treasurer of State, ex officio, or the Treasurer of
State's designee. Of the remaining 6 members to be appointed by the Governor, 3 members must be trustees, directors, officers
or employees of institutions of higher education, one of whom must be from an institution not owned or operated by the State
or any of its political subdivisions and one of whom must be from a community college owned or operated by the State. Each
member of the authority, before entering upon that member's duties, shall take and subscribe the oath or affirmation required
by the Constitution of Maine, Article IX, Section 1. A record of each oath must be filed in the office of the Secretary of
State. With the exception of a member serving in an ex officio capacity, a member of the authority may not at the same time
serve as an officer, director or employee of a nonprofit corporation formed under section 11407 and former Title 20, section
2237, of the state agency designated as administrator of federal guaranteed student loan programs pursuant to chapter 417,
subchapter 1 or of any entity that has a contract to provide a significant level of administrative services to the authority,
to a nonprofit corporation formed under section 11407 and former Title 20, section 2237 or to the state agency designated
as administrator of federal guaranteed student loan programs pursuant to chapter 417, subchapter 1.
2003, c. 20, Pt. OO, §2 (AMD);
2003, c. 20, Pt. OO, §4 (AFF);
2003, c. 385, §2 (AMD)
3.Term of office.
Of the 5 members of the authority first appointed, one shall serve for a term expiring June 30, 1989, 2 shall serve for
terms expiring June 30, 1990, and 2 shall serve for terms expiring June 30, 1991, and until a successor is appointed and qualified.
On the expiration of the term of any member, a successor shall be appointed for a term of 3 years and serve until a successor
is appointed and qualified. The Governor shall appoint a qualified person to fill any vacancy. A member of the authority
shall be eligible for reappointment. A member appointed to fill a vacancy in an unexpired term serves only for the remainder
of that term and until a successor is appointed and qualified. After notice, any member may be removed by the Governor for
misfeasance, malfeasance or willful neglect of duty or other cause.
1987, c. 807, §3 (NEW)
Each year the authority shall elect from among its members a chairman, vice chairman, a secretary and any other officers
1987, c. 807, §3 (NEW)
Each member of the authority shall be compensated by the authority in accordance with Title 5, chapter 379. [1987, c. 807, §3 (NEW).]
1987, c. 807, §3 (NEW).
1995, c. 519, §6 (AMD).
1999, c. 443, §6 (AMD).
1999, c. 728, §13 (AMD).
2003, c. 20, §OO2 (AMD).
2003, c. 20, §OO4 (AFF).
2003, c. 385, §2 (AMD).
2005, c. 397, §C12 (AMD).
Data for this page extracted on 10/16/2012 08:29:43.
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