top of page

Bylaws of the Financial Management Association

Northern Illinois University—September 29, 2005

 

​

​

Article I.Name

Section 1.01 The name of this Society shall be the Financial Management Association.

 

Article II.Mission

Section 2.01 The mission of the Society is to assist finance students with making the transition from students to professionals. The objectives of the organization are to ensure that its members:

  • Obtain valuable career information;

  • Develop professional insights and attitudes;

  • Gain experience in problem solving and decision making;

  • Increase professional and faculty contacts;

  • Improve social and interpersonal skills;

  • Demonstrate competence in skill areas beyond those needed to obtain a college degree.

 

Article III.Members

Section 3.01 Any person shall be eligible for membership provided that such person shall present in writing an application to the Society. A person shall be declared a member of the Society after presentation of application and upon payment of the required semesterly dues.

 

Section 3.02 The membership of this Society includes active and/or honorary members.

 

Section 3.03 An active member shall be entitled to the privileges of membership in the Society if:

  • He or she is a currently enrolled student at Northern Illinois University, and

  • His or her semesterly dues have been paid.
     

Section 3.04 Active members are obligated to:

  • Earn 150 points of which 30 has to be from community service and/or fundraising activities.

  • Attend the semester election meeting.
     

Section 3.05 Those members (active or otherwise) who do not meet these requirements are subject to dismissal from the Society.

 

Section 3.06 Members shall be considered active until they fail one of the aforementioned requirements at the end of their first semester.

 

Section 3.07 Upon the recommendation of one member, seconded by another member(s), and majority approval of the Executive Board, honorary life membership may be conferred upon an individual who shall have rendered notable service to the Society.

  • An honorary member shall have none of the obligations of membership in the Society, but shall be entitled to all privileges except those of making motions, voting, and holding office.
     

Section 3.08 The chapter dues shall be twenty-five dollars per semester, due before the fourth meeting of the semester.  If prospective members have not paid their dues by the fourth meeting, there will be a fee at the door which will go towards the payment of their dues.  

 

Section 3.09 Any member that wishes to resign may do so by not paying dues and/or by not fulfilling point requirements.

 

Article IV.Officers

Section 4.01 There shall be 8 officers of the Society who will serve terms for one semester.

  • Their term of office shall begin at the end of the semester prior to the semester for which they were elected.
     

Section 4.02 The officers shall be active members of good academic standing and shall be Finance majors attending Northern Illinois University.  For the positions of President, Vice President, and Vice President of Finance, students must also be of either junior or senior status (per his or hers accumulated credit hours).  For any other position, officers may be freshmen, sophomore, junior, or senior standing.

 

Section 4.03 Vacancies occurring during the semester shall be filled by the Executive Board’s nomination of qualifying candidates who may accept the nomination. Current Executive Board members may hold more than one Executive Board position for purposes of this circumstance.

 

Section 4.04 Officers are subject to recall for malfeasance in office.

  • The Executive Board shall vote on the recall procedures.

  • If the officer in question is the President, the Vice President shall conduct the recall.
     

The officers of the Society include a:

Section 4.05 President

  • The President shall have sole authority regarding all matters of the Society except in situations where voting is required.

  • The President is responsible for organizing the general events (i.e. speakers, firm tours, Meet the Firm Night, etc.) of the Society.

  • The President shall decide on matters not specifically addressed in these bylaws.

  • The prerequisite for President shall be a one-semester term as Vice President.
     

Section 4.06 Vice President

  • The Vice President is to observe and assist with the duties of the President.

  • The Vice President shall be the President upon completion of his or her term.
     

Section 4.07 Vice President of Finance

  • The Vice President of Finance shall be responsible for the bookkeeping of the Society’s finances.

  • The Vice President of Finance shall be responsible for producing a budget prior to the first meeting of the term.
     

Section 4.08 Vice President of Community Service

  • The Vice President of Community Service shall be responsible for organizing more than one community service event.

  • The dates and times for these events should be determined prior to the first meeting of the term.
     

Section 4.09 Vice President of Fundraising

  • The Vice President of Fundraising shall be responsible for organizing more than one fundraising event.

  • The dates and times for these events should be determined prior to the first meeting of the term.
     

Section 4.10 Vice President of Membership

  • The Vice President of Membership shall be responsible for maintaining all records pertaining to the Society, including (but not limited to) current members and alumni.

  • The Vice President of Membership shall record the attendance at all of the Society’s events.
     

Section 4.11 Vice President of Chapter Relations

  • The Vice President of Chapter Relations shall be responsible for all matters regarding the awareness and visibility of the Society and for communication between the national organization and the Society.
     

Section 4.12 Vice President of Technology

  • The Webmaster shall maintain the Society’s Web page. He or she shall chair the Web Page Committee.

​

Figure 1 Board of Directors (Officers)

president
membership
fundraising
technology
finance
community_service
viee_president
chapter_relations
bottom of page