Section 892-X-1-.20 - Board of Directors (Alabama Administrative Code)

§ 892-X-1-.20. Board of Directors

(1) A representative of an active QPD, a municipality, or county nominated for board appointment shall be a salaried employee of that entity with expertise in the SAFE Program, and the entities' general and financial operations.

(2) With respect to an appointed board member's term of service:

(a) A member's term shall begin at the meeting following his/her appointment. Each member shall remain until his/her term expires, death, resignation, or his/her successor has been appointed.

(b) No board member may serve more than two consecutive four-year terms. Completion of a partial term will not be considered a full term.

(c) Any board member may resign at any time from his/her position with the SAFE Board. Notice of resignation shall be provided in writing to the Treasurer. The resignation shall take effect upon date specified in the written notice.

(d) Any board member leaving employment with his/her represented entity shall simultaneously resign as a member of the SAFE board. Resignation shall be provided in writing to the Treasurer with a copy provided to the Nominating Authority.

(3) Within one month of notification of a board vacancy, the Nominating Authority shall submit, in writing, a minimum of three nominations to the Treasurer

(4) When selecting the board appointee, the Treasurer may consider factors including but not limited to geographic location and asset size of the financial institution, city, or county.

(New Rule: Filed March 28, 2001; effective May 2, 2001. Amended: Filed September 19, 2002; effective October 24, 2002. Amended (only rule number changed): Filed January 23, 2004; effective February 27, 2004. Amended: Filed December 20, 2004; effective January 24, 2005. Amended (Rule & Appendix): Filed January 19, 2006; effective February 23, 2006. Repealed and New Rule: Filed August 20, 2008; effective September 24, 2008.)

Original Rule 892-X-1-.17 was renumber to 892-X-1-.18 as per certification filed January 23, 2004; effective February 27, 2004. Original Rule 892-1-.18 was renumbered to 892-X-1-.19 as per certification filed December 20, 2004; effective January 24, 2005. Rule 892-X-1-.19 was renumbered to Rule 892-X-1-.20 as per certification filed January 19, 2006; effective February 23, 2006.

Author: Mickey Daughtry

Statutory Authority: Code of Ala. 1975, §§ 41-14A-6.

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