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  updated 10.27.14



BYLAWS

ARTICLE I - NAME

The name of the corporation is:

INDIANA STUDENT FINANCIAL AID ASSOCIATION

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ARTICLE II - PURPOSE

The charitable and educational purposes of this corporation shall be to serve the needs and interests of financial aid administrators, postsecondary institutions and students. The objectives of the corporation shall be:

  1. To foster and provide opportunities for professional development, growth and training of financial aid administrators.
  2. To foster and promote ethical financial aid practices and professionalism among member representatives.
  3. To facilitate cooperation and communication among postsecondary institutions.
  4. To facilitate the dissemination of information concerning financial aid to students, parents, high school personnel and other interested parties.
  5. To cooperate with state and federal governmental bodies in the promotion of effective student aid programs.
  6. To facilitate cooperation and communication among all institutions, agencies and organizations involved in, or concerned with, financial aid.
  7. To encourage and conduct systematic studies, research, cooperative experiments, conferences, and other related activities as deemed necessary or desirable in fulfilling the purposes of this corporation.

STATEMENT OF ETHICAL PRINCIPLES

The primary goal of the Financial Aid Professional is to help students achieve their educational potential by providing appropriate financial resources. To this end, this Statement provides the Financial Aid Professional with a set of principles that serves as a common foundation for accepted standards of conduct. (Principles based on those created by the National Association of Student Financial Aid Administrators)

The Financial Aid Professional shall:

  • Be committed to removing barriers for those who wish to pursue postsecondary learning.
  • Make every effort to assist students who seek financial aid.
  • Be aware of the issues affecting students and advocate their interests at the institutional, state, and federal levels.
  • Support efforts to encourage students, as early as the elementary grades, to aspire to and plan for education beyond high school.
  • Educate students and families through quality consumer information.
  • Respect the dignity and protect the privacy of students, and assure the confidentiality of student records and personal circumstances.
  • Assure equity by applying all need analysis formulas consistently across the institution's full population of student financial aid applicants.
  • Provide services that do not discriminate on the basis of race, color, religion, national origin, age, sex, disability status or veteran status.
  • Recognize the need for professional development and continuing education opportunities.
  • Promote the free expression of ideas and opinions, and foster respect for diverse viewpoints within the profession.
  • Commit to the highest level of ethical behavior and refrain from conflict of interest or the perception thereof.
  • Maintain the highest level of professionalism, reflecting a commitment to the goals of the Indiana Student Financial Aid Association.

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ARTICLE III - MEMBERSHIP

SECTION 1. Membership is individual and provides for four (4) classes of membership representation: regular member, associate member, student affiliates and retirees.

  1. Regular Member
    1. Regular membership shall be limited to financial aid professionals working in postsecondary educational institutions in the State of Indiana which are deemed to be eligible to participate in federal or state student financial aid programs.
    2. These members shall have voting privileges and may serve in any elective or appointed position.
  2. Associate Member
    1. Associate membership shall be limited to employees of organizations concerned with, or engaged in, the support and/or the administration of student financial aid.
    2. These representatives shall not have voting privileges, but may serve in any appointed positions.
  3. Student Affiliates
    1. Student Affiliates shall be limited to any student enrolled at a postsecondary educational institution in the State of Indiana which is deemed eligible to participate in federal or state financial aid programs.
    2. Student affiliates shall not have voting privileges and cannot hold elective or appointed positions.
  4. Retirees
    1. Retirees status shall be limited to those who were actively involved in the administration of student financial aid programs at a postsecondary educational institution in the State of Indiana which is deemed eligible to participate in federal or state student financial aid programs, or an organization concerned with, or engaged in, the support and/or the administration of student financial aid at the time of their retirement.
    2. Retirees shall not have voting privileges and cannot hold elective positions, but may be appointed to committees by approval of the president.

SECTION 2. Approval, Recognition and Termination of Membership

  1. To be approved for membership, a qualifying individual representative shall:
    1. File a membership application annually with the Membership Committee.
    2. Pay dues as designated by the Executive Committee.
  2. Membership shall be acknowledged by an email, or online confirmation from the Membership Committee to the individual.
  3. Membership may be terminated by action of the Executive Committee for:
    1. Conduct which in any way tends to be injurious to the corporation or its members, or which tends to adversely affect its reputation or which is contrary to or destructive of its objectives.
    2. Failure to comply with provisions of recognized and approved Statements of Ethical Principles.
    3. Failure to maintain status as stipulated in Article III, Section 1.
    4. Failure to pay annual dues.
  4. It is the right of individual whose membership has been terminated to file a written appeal with the Executive Committee; however, its decision regarding the appeal will be final.

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ARTICLE IV - OFFICERS

The officers of the corporation shall be the President, President-Elect, Immediate Past President, Secretary, Treasurer and Treasurer-Elect.

SECTION 1. President

  1. The President shall serve for a period of one (1) year.
  2. The term of office shall be from the beginning of the approved fiscal year to the end of the approved fiscal year, inclusive.
  3. In the event of a vacancy in the office of President, the President-Elect shall assume the duties of the President, without prejudice to the ensuing term of office.

SECTION 2. President-Elect

  1. The President-Elect shall be elected by a vote of the representatives of regular members.
  2. The term of office shall be for one (1) year, from the beginning of the approved fiscal year to the end of the approved fiscal year, inclusive.
  3. Upon completion of the term as President-Elect, the representative will become President of the corporation.
  4. In the event of a vacancy in the office of President-Elect, it shall be filled through a special election.

SECTION 3. Immediate Past President

  1. The Immediate Past President shall continue to serve for a period of one (1) year upon completion of the term of office of President.
  2. In the event of a vacancy in the office of Immediate Past President, the most recent Past President shall assume the position of Immediate Past President.

SECTION 4. Secretary

  1. The Secretary shall be elected by a vote of the representatives of regular members.
  2. The term of office shall be for a period of two (2) years, the beginning of the approved fiscal year to the end of the approved fiscal year, inclusive, with the election being held during the year which ends with an odd-number digit.
  3. In the event of a vacancy in the office of Secretary, the President, with the approval of the Executive Committee shall appoint a replacement who shall complete the term of office.

SECTION 5. Treasurer

  1. The term of office shall be for a period of two (2) years, the beginning of the approved fiscal year to the end of the approved fiscal year, inclusive.
  2. In the event of a vacancy in the office of Treasurer, the Treasurer-Elect shall assume the duties of Treasurer, without prejudice to the ensuing term of office.

SECTION 6. Treasurer-Elect

  1. The Treasurer-Elect shall be elected by a vote of the representatives of regular members.
  2. The term of office shall be for a period of two (2) years, the beginning of the approved fiscal year to the end of the approved fiscal year, inclusive, with the election being held during the year which ends with an even-number digit.
  3. Upon Completion of the term as Treasurer-Elect, the representative will become Treasurer of the corporation.
  4. In the event of vacancy in the office of Treasurer-Elect, it shall be filled through a special election.

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ARTICLE V - DUTIES OF OFFICERS

SECTION 1. President

  1. The President shall be the principal executive officer of the corporation and shall establish the direction of the corporation for one (1) year.
  2. The President shall supervise the business of the corporation and preside at all meetings of the corporation and it's Executive Committee.
  3. The President shall establish any and all committees within the commission structure and shall serve as an ex-officio member of all commissions and committees.
  4. The President shall act as official spokesperson for the corporation or appoint, with prior approval of the Executive Committee, another individual to act as the designated spokesperson.
  5. The President shall be the official ISFAA representative to the MASFAA Executive Council and the official ISFAA liaison to NASFAA.
  6. Contracts and agreements on behalf of the corporation and approved by the Executive Committee must be signed by the President.
  7. The President shall perform all duties incidental to the office of the President and other duties as may be prescribed by the Executive Committee.
  8. Upon completion of the term of office, the President shall submit an annual report to the member representatives.

SECTION 2. President-Elect

  1. In the absence or temporary inability of the President to perform the duties of the President, the President-Elect shall assume said duties and while so acting shall have all of the powers of the President and be subject to all the restrictions placed upon the President.
  2. The President-Elect shall serve as Chair of the Audit and Finance Committee and the By Laws Committee and shall appoint two (2) representatives to serve on (each of) the committee.
  3. The President-Elect shall perform other duties as may be assigned by the President and/or the Executive Committee.

SECTION 3. Immediate Past President

  1. The Immediate Past President shall assist the President as requested by the President and/or the Executive Committee.
  2. The Immediate Past President shall serve as Chair of the Nominations/Election and Awards Committee.
  3. In the absence or inability of both the President and the President-Elect to perform the duties of the President, the Immediate Past President shall assume said duties and while so acting shall have all the powers of the President and be subject to all of the restrictions placed upon the President.

SECTION 4. Secretary

  1. The Secretary shall record, distribute to the representatives, and maintain a file of the minutes of the meetings of the corporation and its Executive Committee.

SECTION 5. Treasurer

  1. The Treasurer shall perform fiscal management duties as directed by the Executive Committee.
  2. The Treasurer shall maintain records of the fiscal activities of the corporation and submit a report of the activities at each business meeting and as requested by the President and/or the Executive Committee.

SECTION 6. Treasurer-Elect

  1. In the absence or temporary inability of the Treasurer to perform the duties of Treasurer, the Treasurer-Elect shall assume said duties and while so acting shall have all of the powers of the Treasurer and be subject to all the restrictions placed upon the Treasurer.
  2. The Treasurer-Elect will serve as a member of the Audit and Finance Committee.
  3. The Treasurer-Elect shall perform other duties as may be assigned by the Treasurer and/or the Executive Committee.

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ARTICLE VI - EXECUTIVE COMMITTEE

SECTION 1. Membership

  1. The President, President-Elect, Immediate Past President, Secretary, Treasurer, and Treasurer-Elect shall be members of the Executive Committee at all times.
  2. Four (4) at-large representatives will at all times be members of the Executive Committee.
    1. Two (2) representatives shall be elected each year to serve a two (2) year term.
    2. An at-large representative may be a candidate to succeed self as an elected member of the Executive Committee.
    3. At-large representatives shall be nominated and elected by the representatives from regular membership and shall take office on the beginning of the approved fiscal year.
  3. Five (5) Commissioners will at all times be members of the Executive Committee.
    1. The Commissioner will be appointed by the President-Elect subject to ratification by ballot of the representatives of regular member institutions.
    2. The term of office for the Commissioner shall be two (2) years and shall commence on the beginning of the approved fiscal year.
    3. The Commissioner of the Associate Members Commission, Internal Operations and Management Commission and the Professional Training and Development Commission will be appointed in the year ending with an odd digit.
    4. The Commissioner of the Public Relations and Communications Commission and the Governmental Relations Commission will be appointed in the year ending with an even digit.
  4. All members of the Executive Committee must be Regular Members, except for the Associate Member Commissioner which may be held by an Associate Member or by a Regular Member.
  5. Vacancies on the Executive Committee, other than officers, shall be filled by presidential appointment with the prior approval of the Executive Committee.

SECTION 2. Duties and Responsibilities

  1. The Executive Committee shall make decisions and/or take action on urgent matters when immediate submission of such matters to the entire membership is impractical. The Secretary will then notify the representatives of its decision/action.
  2. The Executive Committee shall make recommendations regarding policies and procedural matters to the representative.
  3. The Executive Committee shall be responsible for setting the annual dues structure for the corporation.
  4. The Executive Committee must approve any contracts in excess of $1,000 or agreements lasting one (1) or more years on behalf of the corporation and shall be responsible for the execution of the related activities of the corporation.

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ARTICLE VII - COMMISSIONS

SECTION 1. There shall be five (5) Commissions to carry out the purposes of the corporation: Associate Members, Internal Operations and Management, Professional Training and Development, Public Relations and Communications and Governmental Relations.

  1. Internal Operations and Management Commission has the responsibility for managing the general activities of the corporation as related to finance, membership, voting, by-laws and other areas as deemed necessary for the stability and growth of the corporation.
  2. Professional Training and Development Commission shall plan, conduct and supervise the professional training and development activities, i.e., programs, workshops, seminars, etc., that contribute to the competency, development and status of the membership.
  3. Public Relations and Communications Commission shall coordinate the activities that communicate issues, ideas, and information to the representatives; it will also foster and promote financial aid awareness activities that assist in the dissemination of financial aid information to students, parents, high school counselors/personnel, admissions personnel, and the general public.
  4. Governmental Relations Commission shall serve as the liaison for the Corporation with local, state, and/or federal agencies/organizations that directly affect financial aid, institutions and students.
  5. Associate Members Commission shall serve as the liaison for the Corporation with issues that pertain to and affect the Associate membership, i.e., sponsorship, associate concerns, charitable functions.

SECTION 2. Commission Directors

  1. The Commissioners will be responsible for coordinating the efforts of all committees under their jurisdiction and shall work with the President to establish committee goals and objectives for the year.
  2. The Commissioners shall assist the President in the appointments of the committee chairs.

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ARTICLE VIII - COMMITTEES

SECTION 1. The Corporation shall have three (3) standing committees, each of which shall perform such functions as prescribed below. Unless otherwise specified, members of standing committees and the chairpersons thereof shall be appointed by the President, subject to the approval of the executive committee.

  1. Audit and Finance Committee
    1. (1) Audit and Finance Committee shall consist of four (4) members including the President-Elect, who shall serve as Chair, the Treasurer, and the Treasurer-Elect.
    2. (2) The Audit and Finance Committee shall be responsible for the fiscal credibility of the Corporation through an annual review of the accounting procedures and pertinent records, construction of an annual operating budget, and other activities that ensure the financial stability of the Corporation.
    3. (3) The Audit and Finance Committee will be a part of the Internal Operations and Management Commission.
  2. Membership and Ethics Committee
    1. Membership and Ethics Committee shall consist of five (5) members.
    2. Membership and Ethics Committee shall be responsible for all matters concerning recruitment, approval and retention of members.
    3. Membership and Ethics Committee shall be responsible for sending annual membership applications by 45 days prior to the end of the fiscal year.
    4. Membership and Ethics Committee shall maintain membership records, publish and distribute membership directories and cards.
    5. Membership and Ethics Committee shall be responsible for the promotion and evaluation of ethical financial aid practices and the maintenance of professionalism among members.
    6. Membership and Ethics Committee shall be a part of the Internal Operations and Management Commission.
  3. Nominations/Elections and Awards Committee
    1. This committee shall consist of the Immediate Past President who shall serve as Chair.
    2. Nominations/Elections and Awards Committee shall be responsible for conducting a fair and equitable nominations and election process, including the presentation of a slate of candidates for the elected offices and the supervision of the election.
    3. Nominations/Elections and Awards Committee shall select individuals that have been or are currently members of ISFAA for recognition of outstanding service to the Corporation and to the financial aid profession.
    4. This committee shall be a part of the Internal Operations and Management Commission.

SECTION 2. Ad Hoc Committees

  1. Ad hoc committees may be created to promote the purposes(s) of the corporation or to carry out necessary functions of the corporation on state, regional or national levels.
  2. Creation of ad hoc committees, their jurisdiction, and the number, selection and tenure of members shall be the responsibility of the President and subject to the approval of the Executive Committee.
  3. The existence of ad hoc committees will terminate upon the expiration of the term of office of the President who created said committees or upon completion of its purpose(s).
  4. All ad hoc committees shall be assigned to one (1) of the five (5) commissions. Examples of the committee assignments, while not limited to the following, are:
    1. Internal Operations Commission
      1. Audit and Finance Committee
      2. Membership and Ethics Committee
      3. Nominations/Elections and Awards Committee
      4. By-Laws Committee
      5. Archives Committee
    2. Training and Development Commission
      1. Program Committee(s) for meetings
      2. Site Committee(s)
      3. Training (CSS, SAR, FISAP Workshops, etc.) Committee
    3. Public Relations Commission
      1. Newsletter & Media Committee
      2. High School Relations (IACAC, Financial Aid Outreach Workshop, High School Counselor Workshop) Committee
      3. College Goal Sunday
    4. Governmental Relations Commission
      1. Governmental Relations
    5. Associate Members Commission
      1. Sponsorship Activities Committee
      2. Scholarship Committee

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ARTICLE IX - MEETINGS

SECTION 1. Regular Meetings

  1. There will be two (2) regular meetings of the corporation.
  2. Specific dates for regular meetings will be set by the President, with approval of the Executive Committee, and an agenda will be sent to each institutionally designated representative prior to each meeting.
  3. Thirty percent (30) of the regular membership shall constitute a quorum.

SECTION 2. Called meetings may be held upon the request of the President or the Executive Committee and an agenda shall be sent to each member prior to the meeting.

SECTION 3. Executive Committee Meetings

  1. Meetings of the Executive Committee will be called by the President and may be held on the same day as regular meetings.
  2. Upon written request by at least four (4) members of the Executive Committee, the President must arrange a meeting of the Executive Committee within thirty days after the request has been made.
  3. A majority of the members of the Executive Committee will constitute a quorum.

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ARTICLE X - FINANCE

SECTION 1. The fiscal year of the corporation will be July 1 through June 30, inclusive.

SECTION 2. The dues and income structure of the corporation should support the goals and objectives of the corporation.

SECTION 3. Annual dues shall be assessed according to the following schedule:

  1. Regular Membership will be charged to anyone from a regular member institution and is individual rather than institutional, as evidenced by the annual payment of dues. Membership is not transferable.
  2. Associate Membership will be charged to anyone from an approved organization and is individual rather than institutional, as evidenced by the annual payment of dues. Membership is not transferable
  3. Student Affiliates will be exempt from membership dues.
  4. Retirees will be exempt from membership dues.

SECTION 4. During the term of the Presidency, annual dues of the President shall be waived as recognition of the value and appreciation for the time and effort expended on behalf of the corporation.

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ARTICLE XI - VOTING

Unless otherwise specified, a majority vote of a quorum is required to approve an action of the corporation. A vote may be taken in any meeting at which a quorum is present or by electronic ballot. In the case of an electronic ballot, the number voting must be equal to or greater than that required for a quorum. A vote may be taken in any meeting scheduled by the Executive Committee.

SECTION 1. Election of Officers

  1. The Nominations/Elections and Awards Committee shall prepare a slate of candidates for presentation to and approval by the Executive Committee.
  2. Upon approval of the slate of candidates, ballots shall be made available via online ballots to representatives holding voting privileges at least 45 days prior to the annual spring meeting.
  3. Online ballots must be received by the Chair of the Nominations/Elections and Awards Committee by a date specified which is to be at least ten (10) days prior to the spring meeting.
  4. Results of the election process will be announced at the business meeting during the spring meeting. In the event of ties, a run-off election will be held during the business meeting of the spring meeting.

SECTION 2. Special Elections

  1. In the event of a vacancy in the position of President-Elect or Treasurer-Elect, the Nominations/Elections and Awards Committee shall solicit nominations and conduct a special election by online ballot.
  2. Results of the election process will be published in the next regularly scheduled newsletter or the Secretary's minutes, whichever occurs first.

SECTION 3. Ratification of Appointments

  1. Appointments which require ratification will appear on the general election ballot as described in Section 1 of this article.
  2. In the event that an appointment is not ratified, a special ballot will be conducted during the business meeting of the spring meeting to secure ratification of an alternate appointment.

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ARTICLE XII - RULES OF ORDER

SECTION 1. The rules contained in the most recent edition of Robert's Rules of Order shall govern the corporation in all cases to which they are applicable, and in which they are not inconsistent with the By-Laws of the corporation.

SECTION 2. The By-Laws of the corporation may be suspended by a two-thirds (2/3) vote of those members present at a meeting of the corporation provided a quorum is present.

SECTION 3. A parliamentarian, appointed by the President, must be present at all regular meetings.

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ARTICLE XIII - AMENDMENTS

A proposed amendment shall be presented in writing for discussion at a regular and properly publicized meeting. The Secretary shall mail, email or provide on-line copies of the proposed amendment(s) to all representatives holding voting privileges within two (2) weeks after the meeting. Voting representatives shall cast their vote by an online ballot by a date specified which is to be at least five (5) days prior to the subsequent regular meeting. The number voting must be equal to or greater than that required for a quorum and two-thirds (2/3) majority of the votes received is required for the adoption of the amendment.

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