Maine Revised Statutes

§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. [2011, c. 420, Pt. G, §9 (AFF); 2011, c. 420, Pt. G, §1 (RP).]
B-2. Two members appointed by the Governor from at large; [2011, c. 420, Pt. G, §2 (AMD); 2011, c. 420, Pt. G, §9 (AFF).]
C. Two members appointed by the Governor with experience in and knowledge of institutional investment of funds; [2011, c. 420, Pt. G, §3 (AMD); 2011, c. 420, Pt. G, §9 (AFF).]
D. [2011, c. 420, Pt. G, §9 (AFF); 2011, c. 420, Pt. G, §4 (RP).]
E. One member appointed by the Governor with experience in and knowledge of institutional investment of funds; and [2011, c. 420, Pt. G, §5 (NEW); 2011, c. 420, Pt. G, §9 (AFF).]
F. One member appointed by the chair of the board who is a member of the board other than the Treasurer of State. [2011, c. 420, Pt. G, §5 (NEW); 2011, c. 420, Pt. G, §9 (AFF).]
[ 2011, c. 420, Pt. G, §§1-5 (AMD); 2011, c. 420, Pt. G, §9 (AFF) .]
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). 2011, c. 420, Pt. G, §§1-5 (AMD). 2011, c. 420, Pt. G, §9 (AFF).