Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 1 - BYLAWS AND ADMINISTRATION OF THE FINANCE AUTHORITY OF MAINE › Section 457-1-3 - BYLAWS OF THE MEMBERS OF THE AUTHORITY

Current through 2024-29, July 17, 2024
A.
Name.
The name of the Authority is the Finance Authority of
				Maine.
B.
Purpose.
The
				Authority was created by the Maine Legislature for the purposes set forth in
				the Finance Authority of Maine Act and following (the "Act").
C.
Office.
The principal office
				of the Authority shall be at such location as it shall determine.
D.
Seal.
The seal of the
				Authority shall be in the form of a circle within which shall be the name of
				the Authority and the year 1983.
E.
Members of the Authority.
The members of the Authority shall be
				appointed and compensated and shall serve such terms as the Act may
				specify.
F.
Quorum of and
				action by the members.
The requirements for determining a quorum and for
				taking action shall be governed by the Act. If seven members are present at the
				beginning of any meeting, then quorum exists for the transaction of business.
				If any member(s) leaves from a meeting at which a quorum was originally
				present, so that less than seven (7) members remain, quorum continues to exist.
				The affirmative vote of the greater of five members present, and voting or a
				majority of those present and voting is necessary for any action taken by the
				members.
G.
Officers of the
				members.
The members shall elect from among themselves one person as
				Chair, one person as Vice Chair who shall serve as secretary, one person as
				treasurer and such other officers as it may from time to time determine. The
				officers shall have a term of one year and shall serve until the election of
				their successors. The Chair shall preside over meetings of the members. In the
				absence or incapacity of the Chair or if for any reason there is no Chair, then
				the Vice Chair shall perform the duties of the Chair. In addition, the Vice
				Chair, as Secretary, shall sign the minutes of all meetings of the members,
				after such minutes have been approved by the members.
H.
Nominating Committee.
At
				least four weeks before the date scheduled for the annual meeting, the Chair
				shall appoint a nominating committee consisting of at least three members, who
				shall report to the members presenting a slate of nominees for officers of the
				Authority.
I.
Regular
				meetings.
The members will ordinarily meet on the third Thursday of each
				month.
J.
Special
				meetings.
Special meetings of the members may be called by either the
				Chair or any three members.
K.
Annual Meeting.
The annual meeting of the members shall be held in
				the fall of each year at which time the members shall elect the
				officers.
L.
Location of
				Meetings.
Meetings other than the annual meeting shall ordinarily be held
				in Augusta, unless another location is designated by the Chair or Chief
				Executive Officer.
M.
Compensation Requests.
A member's request for payment of a per
				diem as provided by law and for reimbursement of expenses in connection with a
				duly called regular or special meeting of the members shall be presented to the
				Chief Executive Officer or the Director of Finance for approval and payment. A
				member's request for payment of a per diem and for reimbursement of expenses in
				connection with any other matter shall set forth the basis for the request and
				shall be presented to the Chief Executive Officer or the Director of Finance
				for payment. In the event it is not clear that the request is eligible for
				reimbursement, a determination will be made by the Chair and, if approved,
				presented to the Chief Executive Officer or Director of Finance for
				payment.
N.
Notice of
				Meetings.
Any meeting held on the third Thursday of the month shall be
				deemed a regular meeting for which no advance notice is required. Meetings held
				on any other day shall be deemed special meetings for which notice must be
				received by the members at least two (2) business days prior to the date of the
				meeting, by mail, telephone or otherwise. Notice of emergency meetings must be
				given in accordance with the requirements of the FAME Act and the Maine Freedom
				of Access Act.
O.
Order of
				Business.
The Chair shall determine the Order of Business of each
				meeting.