By Laws of the Financial Management Society

Financial Management Society

By-Laws of the Financial Management Society
Bowling Green State University
Chartered Spring 2000

By-Law 1: Financial Obligations

A. The FMS Treasurer will set membership dues by the second general membership meeting of each semester.

  • Membership dues will be due by the next immediate meeting of the general membership on a date specified by the FMS Treasurer.
  • Any individual wishing to gain membership after this time must submit dues no later than two weeks after first general meeting attended.

B. Members failing to pay membership dues shall be considered in "poor standing" until the obligation is met.

  • Any member failing to pay after one month from specified date or after two weeks from first general meeting attended will be confronted by the Treasurer to discuss membership evaluation.

C. Handling of the Financial Management Society checkbook

  • The FMS Treasurer or the Faculty Advisor must sign all checks written to pay debts.
  • The FMS checkbook will be presented at the request of the FMS officers or the Faculty Advisor.
  • The official budget for every officer, including miscellaneous funds, shall be voted and approved during the second meeting of the general membership meeting per semester.
  • The FMS checkbook shall always remain with the Faculty Advisor throughout the summer months, when classes are not in session.

By-Law 2: Elections and Terms of Office

A. Election Process

  • Elections will be held the next to last general meeting of every semester.
  • A majority vote by all present shall be necessary to elect officers.
  • No electoral race shall remain undecided.
  • Voting shall be by secret ballot if requested by one or more of the voting members present.

B. Officer Eligibility

  • Any individual wishing to run for office must have acquired membership prior to the date of elections.

C. Voting Eligibility

  • Voting privileges shall be limited to active members of FMS.

D. Terms of Office

  • All elected positions are conducted on a per-semester basis except the positions of Treasurer and Deans Advisory Council Representative.

By-Law 3: Revision of the Financial Management Society Constitution and By-Laws

A. The President of the Financial Management Society along with the Faculty Advisor are responsible for revising the Financial Management Society constitution and by-laws upon the completion of each academic semester.

B. Revisions must be approved by 2/3 of the members as well as officers.

By-Law 4: Officer Obligations

A. The FMS officers are expected to attend ¾ of all general and officer meetings.

  • If an officer is unable to attend a specific meeting, it is their duty to notify at least one other officer of their intentions and this will result in an excused absence.
  • If an officer has exceeded the amount of excused absences allowed, the President shall call a special meeting with the officers and Faculty Advisor to discuss replacement of his/her office.
  • If an officer accumulates three unexcused absences within their term of office, this conduct will result in removal from office, effective immediately. The President shall contact this individual and relieve them of their duties.