CONSTITUTION OF THE
FINANCIAL MANAGEMENT ASSOCIATION
Student Chapter
University of West Florida
ARTICLE I
Name and Establishment
This society shall be known as the Financial Management Association Student Chapter, also operating as UWF FMA herein after referred to as the Chapter, created under the authority of the Financial
Management Association, herein referred to as the FMA. This chapter will be created in conformance with all college or university regulations in effect.
ARTICLE II
Purpose
The purpose of this society shall be to:
1 . assist in the professional, educational, and social development of college students interested in finance, banking, and investments;
2. provide an association for college students actively interested in these fields; and
3. encourage interaction between business executives, faculty, and students of business and finance.
ARTICLE III
Membership
Section 1. Qualifications
The qualifications for membership shall be membership in the FMA and evidence of a sincere interest in finance and related fields.
Section 2. Classes of Members
Membership shall consist of three classes: active, alumni, and honorary.
Subsection 1. Active Members
Students, graduate and undergraduate, faculty members, and university financial officers shall constitute the active membership and have the right to vote.
Subsection 2. Alumni Members
Upon graduation, all active student members become alumni.
Subsection 3. Honorary Members
Any person who has demonstrated exceptional achievement or ability in the field of business or non-business finance, banking, or investments, and who possesses such qualities as the FMA
fosters, may be elected to honorary membership.
Section 3. Eligibility for Active Membership
Undergraduate candidates must be students in good academic standing as specified by the University's Standards. Graduate students may be accepted for membership if deemed appropriate by the Board of Directors.
Section 4. Chapter Membership Policy
The Chapter shall have a membership committee consisting of at least three active members. The membership committee is responsible for recommending membership policy to the Board of
Directors of the Chapter and maintaining the membership of the Chapter.
Section 5. Changes in Membership Policy
A three-fourths vote of those members present at a duty called meeting of the Chapter is necessary for change of Chapter membership requirements. Chapter membership policy must conform to
that of the FMA.
Section 6. Transfer of Student Membership
An active student member who transfers from another school, which has a local chapter, shall automatically become an active member of this chapter upon satisfaction of pro-rata local dues
and fees as appropriate.
ARTICLE IV
Officers
The officers of the Chapter shall be President, Vice-President, Secretary and Treasurer. (There may be others deemed necessary for efficient operation of this Chapter). These officers constitute the
Board of Directors.
Section 1. Election of Officers
A majority vote of the members at a duly called meeting of the Chapter shall be necessary to elect officers. The Vice-President shall fill any vacancy caused by resignation of the President.
Any other vacancies shall be filled by election.
Section 2. Term of Office
The term of office of the officers shall be one semester.
Section 3. Board of Directors
The Board of Directors shall have all the power and responsibilities specifically in or reasonably implied in the various sections of the constitution and by-laws, and such other powers and
responsibilities not in conflict with the constitution as are usually exercised by any Board of Directors.
Section 4. Committees
The Board of Directors, shall appoint the following standing committees: banquet membership, and audit. The Board of Directors may appoint other committees deemed necessary by a majority
vote.Terms of committee appointments shall expire at the end of each semester.
ARTICLE V
Meetings
The President may call meetings at any time or, if the President's office is vacant, by the Secretary by means of written notice to the active membership. Written notice of such meetings must be sent
at least one week prior to the meeting. There shall be at least one meeting per semester.
ARTICLE VI
Elections
Regular elections will be conducted with time and method as prescribed in the By-Laws.
ARTICLE VII
Voting
Voting privileges shall be limited to active members. A simply majority vote of the active members who are present at a duly called meeting shall be required and sufficient for the election of
chapter officers and members of the various committees. An affirmative vote of three-fourths of the active members who are present and voting at a duly called meeting shall be required and sufficient
for all other matters. Voting shall be by secret ballot if requested by one or more of the voting members present.
ARTICLE VIII
Fees
The minimum initiation fee payable by each member, other than honorary members, shall include the cost of a one-year student-rate membership in FMA, and local Chapter fees.
ARTICLE IX
Chapter Emblem
The Chapter emblem shall bear the letters FMA and shall be reproduced on Chapter stationary and other media using the Chapter name.
ARTICLE X
Annual Audit
The financial records of the chapter shall be audited annually at the end of each fiscal year by the audit committee. This committee shall report in writing to the FMA Student Chapters Committee and
the President of the Chapter no later than May 15.
ARTICLE XI
Fiscal Year
The fiscal year of the Chapter shall cover the twelve months ending on the end of the Fall semester.
ARTICLE XII
FMA National Honor Society
The Chapter may, upon application to and approval by FMA, sponsor the FMA National Honor Society. The organization of and requirements for election to the Society shall be within the guidelines
established by FMA and as prescribed in the Chapter By-Laws.
ARTICLE XIII
Distribution of Assets on Dissolution
At such time as the Chapter shall be dissolved, its net assets shall be calculated by the SecretaryTreasurer and revert to the FMA or to UWF Student Government Association. No part of the assets of
this organization at dissolution shall inure to the benefit of any person or organization other than the organization before mentioned. (This provision is required by the Bureau of the Internal
Revenue.)
ARTICLE XIV
Amendments
This Constitution may be amended by a three-fourths vote of the members attending a duly called meeting. No amendment to this Constitution shall be effective if it violates the Constitution or
By-Laws of the FMA or of the FMA Student Chapters Committee or until a copy of the amendment has be filed with the FMA Student Chapters Committee.
ARTICLE XV
By-Laws
The By-Laws maybe amended by a three-fourths vote of the members attending a duly called meeting.
This Constitution of the UWF FMA Chapter was adopted on March 13, 2001 and became effective on March 16, 2001 after approval by the FMA.
BY-LAWS
UWF FMA STUDENT CHAPTER
By-Laws of the Financial Management Association
ARTICLE I
Purpose
The purpose of these by-laws is to state the ways in which the provisions of the Constitution shall be applied to the government of the UWF FMA Chapter, and to establish rules and procedures, within
the limits set by the Constitution, and by -laws of the FMA and the FMA Student Chapter Committee, for the operation of the Chapter.
ARTICLE II
Relationship of By-Laws to the Constitution
These By-Laws are not a restatement of the Constitution, but an interpretation and amplification thereof. The provisions of the Constitution shall be applied literally to all matters which were not
covered by these By-Laws.
ARTICLE III
Chapter Officers
The primary officers of the Chapter shall be the Board of Directors which consists of the President, Vice- President, Secretary, and Treasurer. The duties of the officers shall be as follows:
Board of Directors- The Board of Directors shall appoint the members of committees by a majority vote.
President - The President presides at all meetings of the chapter represents the chapter in person or by correspondence in relations with the parent organization; and, performs such other
duties as may reasonably fall within this office.
Vice- President - The Vice President exercises the duties and responsibilities of the President when the latter is for any reason unable to exercise them. The Vice-President assumes presidency
in case of vacancy.
Secretary - The Secretary keeps official minutes of the chapter, including copies of all committee reports; keeps the official file of correspondence of the chapter; keeps an up-to-date copy
of the chapter constitution and by-laws; serves as an ex-officio member of the nominating committee; sends personal data cards containing the names and permanent addresses of new members: active,
honorary, and transfer to the FMA within ten days of receipt; send the FMA all materials which may be of general interest to active and alumni members and other chapter (this includes material on
local chapter activities and the biographies and photographs of honorary members); and performs such.other duties as may reasonably fall within the jurisdiction of the office.
Treasurer - The Treasurer receives, disburses, and keeps custody of the funds of the Chapter; receives and files the annual audit report of the audit committee; pays to the FMA the national
membership fees within ten days after receipt; and performs such other duties as may reasonably fall within the jurisdiction of the office.
ARTICLE IV
Terms of Office
Section 1. Length of Term
The length of term of office of all officers and committee members will be one semester.
Section 2. Consecutive Terms
No officer or committee member may serve more than two consecutive terms in the same office.
ARTICLE V
Election
Section 1. Timing
An election of officers shall be conducted at the next to last regular meeting of the semester.
Special elections may be called for if necessary to fill vacancies. Notice of all elections must be given to all active members at least two weeks in advance of an election.
Section 2. Nominations
A nominating committee of three active members shall prepare a slate of nominees for each office and committee chairpersonship. The current President and faculty advisor shall be ex-official members
of this committee. Nominations shall also be accepted from the floor at the meeting prior to the one in which election is to be held.
Section 3. Voting
Each active member shall be allowed one vote per office.
Section 4. Results of the Election
The results of the election will be tabulated and announced by the nominating committee.
Section 5. Assumption of Office
Elected officers shall assume office at the end of the semester in which they are elected.
ARTICLE VI
Chapter Committees
Section 1. Standing Committees
The Board of Directors shall appoint the following standing committees: Membership, Banquet and Audit.
Section 2. Membership Committee
Annually, there shall be a membership committee, which shall examine the Chapter's membership policy and evaluate the status of the Chapters membership. This committee shall, if necessary, submit a
list of recommended changes in membership policy to the active members of the Chapter one week before a duly called meeting. The membership committee shall be responsible for implementing membership
policy and maintaining membership at acceptable levels.
Section 3. Banquet Committee
Annually, there shall be a banquet committee of three members composed of the President, Vice-President and the Treasurer, or such other active members of the Chapter, as the Board of Directors shall
appoint. The life of this committee shall be its year of appointment. The banquet committee shall be responsible, for the planning and conduct of the annual banquet.
Section 4. Audit Committee
Annually, there shall be an audit committee composed of two or more active members of the Chapter appointed by the President with the approval of the Board. One of these members must be a student and
one may be a member of the faculty. The life of this committee shall be its year of appointment. This committee shall audit the financial records of this Chapter at the end of the fiscal year and
submit its report to the FMA Student Chapter Committee and the Chapter President not later than May 15.
Section 5.
The Board of Directors shall appoint a nominating committee by a majority vote. The life of this committee should be its semester of appointment.
Section 6.
The President shall, with the approval of the Board, appoint such other standing and/or ad hoc committees as are necessary.
ARTICLE VII
Amendments
These By-Laws may be amended by a three-fourths vote of the members present at a duly called meeting of the UWF FMA Chapter. No amendment to these By-Laws shall be effective if in conflict with the
Constitution or By-laws of the FMA or the FMA Student Chapter Committee and until a copy of amendment has been filed with the National Organization.
ARTICLE VIII
Adoption Clause
These By-Laws became effective on March 16, 2001 after approval by the Chapter Board of Directors.