Ala. Admin. Code r. 892-X-1-.20
Board Of Directors
Effective Sep 24, 2008New 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 Repealed and New Rule: Filed August 20, 2008; effective September 24, 2008.State Treasurer’s Office
- (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.
Author: Mickey Daughtry
Statutory Authority: Code of Ala. 1975, §§41-14A-6.
Editor’s Note: 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.
History: 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.