Constitution of the Financial Management Association of San Jose State University
We the Financial Management Association in order to achieve better cooperation among the business students of San Jose State University’s College of Business, its Alumni, and the academic and business world hereby establish this constitution.
Article I – Name
The name of this organization shall be the Financial Management Association, hereafter referred to as the FMA.
Article II – Purpose
The purpose of this organization shall be:
1. Assist in the professional, educational, and social development of college students interested in finance, accounting, banking and investments.
2. Provide an association for college students actively interested in these fields.
3. Encourage interaction and a close affiliation among business executives, the finance community, faculty, and students of business and finance.
4. Further high standards of professional ethics and education in the field of finance.
The Financial Management Association of San Jose State University provides its members with increased knowledge of business finance through professional development opportunities and by acting as an interface between students of finance and finance executives within the Silicon Valley.
The Financial Management Association of San Jose State University aims to maintain our status as a Superior Chapter of the FMA International Organization.
Article III – Affiliation
Section 1. The San Jose State University FMA is a chapter of the Financial Management Association International (hereinafter referred to as FMAI).
Article IV – Membership
Membership in the organization is open to all matriculated, currently-enrolled San Jose State University students who:
a.) Express an interest in membership.
b.) Are members of the Financial Management Association International.
Voting membership is restricted to matriculated, currently enrolled students at San Jose State University
At least eighty percent (80%) of all members of the organization must be matriculated, currently enrolled students at San Jose State University.
Membership in the organization will not be denied to anyone on the basis of race, religion, national origin, ethnicity, color, age, gender, gender identity, marital status, citizenship, sexual orientation, or disability. Eligibility for membership or appointed or elected student officer positions shall not be limited on the basis of race, religion, national origin, ethnicity, color, age, gender, gender identity, marital status, citizenship, sexual orientation, or disability. The organization shall have no rules or policies that discriminate on the basis of race, religion, national origin, ethnicity, color, age, gender, gender identity, marital status, citizenship, sexual orientation or disability. (Title 5, California Code of Regulations, Section 41500).
Section 5. No member of this organization shall engage in hazing, participate in hazing, or commit any act that causes or is likely to cause bodily danger, physical harm or personal degradation or disgrace resulting in physical or mental harm to any fellow student or person attending this institution (California Code of Regulations, Title 5, Article 2, Standards for Student Conduct, Section 41301(b)(8).
Individual students may be disciplined for hazing under Section 41301(b)(8).
This organization shall comply with Title 5, Section 41301 of the Standards for Student Conduct.
A member will be considered to be “active” if:
1. The member has paid the established semester dues, and
2. The member is a member of Financial Management Association International, and
3. The member has participated in three or more of the following activities:
a. Attendance of Professional Development Meetings
b. Participation in fund-raising events
c. Attendance at social events
d. Attendance at company tours, workshops, or events
Honorary membership may be conferred upon persons with singular merit or distinction in an academic or professional capacity.
Honorary membership confers all rights and privileges of this organization, except for the rights to vote and to hold office.
Honorary members must be approved by a plurality vote of the active members.
Honorary members shall not exceed twenty percent (20%) of the total membership.
There shall be one faculty advisor, and as many co-advisors as needed.
Article V – Officers
The FMA Officers shall be the President, Senior Vice-President, Vice-President of Operations, Vice-President of Finance, Treasurer, Vice-President of External Affairs, Director of Marketing, Vice-President of Membership, Director of Social Events, Director of Fundraising, and Webmaster.
The term of office for most officers is one semester and begins from the time of election until new officers take office, immediately following the next election.
The office of President and VP of Operations has a one year term. All other officers serve a one-semester term of office. Offices are assumed at the end of the semester of election. Officers shall not hold the same office for more than two (2) successive semesters unless the office is uncontested in the election.
If any office shall become vacant, the President shall, at the earliest date thereafter, appoint a replacement.
All officers must be registered SJSU students majoring in business and business focused that have paid fees for the upcoming academic year, maintain a minimum 3.0 GPA, are of Junior or Senior standing and have prior FMA experience (or related experience) unless approved for candidacy by faculty advisor.
The candidate running for the Presidency must have prior FMA officer experience and be a gold member for the current election period.
All officers of the organization must be matriculated, currently enrolled students at San Jose State University. All officers of this organization must maintain a minimum overall 3.0 grade point average, must be enrolled in at least 6 units, and must be in good standing with San Jose State University during their term of office.
The President and Treasurer of this organization are required to complete an Alcohol Education Training offered by Student Involvement.
Individuals who are officers in these roles cannot have the same role in another student organization: VP of Operations and VP of External Affairs. The President shall not hold any other officer role in another student organization. No officer shall hold the presidential role in another student organization.
No FMA committee shall have more than 50% graduating seniors as their members.
Article VI – Officer Duties
Shall be the Chief Executive Officer of the organization and preside at all regular and executive meetings. The President shall organize and direct the activities of the organization; assume the duties of other officers due to non-performance; and carry out other duties that may reasonably fall within the office. The President shall transition the next President into office, and is elected for a one-year term.
Shall keep a current copy of the organization’s Constitution and By-Laws and perform the duties of the President if necessary until a time when the Executive Cabinet can elect a permanent replacement, following Constitutional rules. The Senior Vice-President shall perform the duties of the Secretary if no person is elected or appointed to that position, and shall perform other duties as may reasonably fall within the jurisdiction of the office. The Senior Vice-President shall transition the next Senior Vice-President into office, and is elected for a one-semester term.
Shall receive, disburse and keep custody of the funds of the organization; keep a cash and general ledger; prepare annual financial reports at the close of each fiscal year; prepare a per semester budget and perform other duties as may reasonably fall within the jurisdiction of the office, and transition the next Treasurer into office. The Treasurer is elected for a one-semester term.
Director of Finance:
Shall monitor the cash in-flows and out-flows, make financial decisions, approve expenses for the local chapter, apply for grants and funds, notify the Treasurer to record all approved budget and expenditures items, sign checks for any reimbursements, and transition next Vice President of Finance into office. The Vice-President of Finance is elected for a one-semester term.
Vice-President of Operations:
Shall be responsible for coordinating the Calendar of Events for fall and spring semester, inviting guest speakers to join the FMA and lead professional development meetings; is responsible for all of the logistics pertaining to guest speakers and professional development meetings and will be the point of contact for that purpose. The Vice President of Operations will also provide support to the Vice President of External Affairs to coordinate and execute any and all external events during the semester and transition the next Vice-President of Operations into office. This position requires an approved writing sample in order to qualify for elections. The Vice President of Operations is a one-year term position starting fall semester only. Under certain circumstances, if the Vice-President of Operations is unable to fulfill their full term, a new Vice-President of Operations will be elected/appointed to fill the remainder of the previous Vice-President of Operations term.
Vice-President of Membership:
Shall be responsible for capturing new member sign-ups at the beginning of each term; maintain a current list of active and alumni members; alert all active members of each upcoming meeting at least three business days in advance; maintain an accounting of all paid dues per semester; maintain contact with FMA International, and pay all required dues to maintain eligibility as a Superior Chapter. The Vice-President of Membership will capture meeting and event participant totals in order to accurately calculate accrued membership points and be responsible for the purchase of end-of-semester member awards and certificates. This position requires an approved writing sample in order to qualify for elections. The of Membership shall transition the next Vice President of Membership into office and is elected for a one-semester term.
Historian: (if none, Senior Vice-President assumes the duties of the Historian)
Shall keep official minutes of the chapter, including copies of all committee reports; keep the official file of correspondence of the chapter; keeps an up-to-date copy of the chapter constitution and by-laws; send FMA International any and 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 other duties as may reasonably fall within the jurisdiction of the office. This position requires an acceptable writing sample in order to qualify for elections. The Historian is responsible for transitioning the next Historian into office, and is elected for a one-semester term.
Director of Marketing:
Shall manage and direct any and all written communications related to promoting the activities of the FMA; create and produce any marketing materials to promote the FMA meetings and events; work with other officers in the marketing effort. This position requires an acceptable writing sample in order to qualify for elections. The Director of Marketing will transition the next Director of Marketing into office, and is elected for a one-semester term.
Vice-President of External Affairs:
Shall be responsible for coordinating external events and act as the liaison to Silicon Valley companies. Examples of external events are: campus tours and the semi-annual F.A.M.E. Conference. She/he will work in conjunction with the Vice-President of Operations to facilitate recruitment sessions with University Program managers from various Silicon Valley businesses. This position requires an acceptable writing sample in order to qualify for elections. The Vice-President of External Affairs will transition the next Vice-President of External Affairs into office, and is elected for a one-semester term.
Director of Fundraising:
Shall work to create and execute at least two fundraisers for the purpose of raising funds for the FMA. The Director of Fundraising will be the point of contact for fundraiser participants and keep a record of all fundraising participant contact information and event details. In addition to group fundraisers, the Director of Fundraising will be responsible to create a professional fundraising letter to Silicon Valley firms, asking for funding and support for the FMA (If the donating party requests a tax ID, the funds will be deposited to the Tower Foundation account). This position requires an approved writing sample in order to qualify for elections. The Director of Fundraising shall transition the next Director of Fundraising into office, and is elected for a one-semester term.
Webmaster: (If none, the Director of Marketing assumes the duties of the Webmaster.)
Shall ensure that the website is updated and maintained on a weekly basis; updates the FMA website with each officer’s bio and headshot when necessary, upload newsletters (3 times per semester), and maintains online calendar of all FMA events.
Social Director: (If none, the Director of Membership assumes the duties of the Social Director.)
Shall work with other organizations on campus to coordinate leisure and joint-organization activities and plan at least two social meet-ups where officers can meet with members in a casual and fun setting. The Social Director shall transition the next Social Director into office, and is elected for a one-semester term.
Article VII – Nominations & Elections
Application for officers will be accepted for a two-week period beginning one month prior to the last scheduled meeting of the semester. All officers will be elected by the general membership by plurality vote.
If no application for an office is received, that semester’s President, in consultation with the faculty advisor, shall appoint the officer(s) for the next semester.
Elections will be held at the end of each regular semester.
Candidates will go through an initial screening to receive recommendations from the President, Senior Vice President, and Faculty Advisor. All officers will be elected by the general membership by plurality vote.
Voting privileges shall be limited to active members only. A plurality vote of the active members who are present at a duly called meeting shall be required and sufficient to elect the organization’s officers and for all other matters not specifically provided for in this Constitution.
Election of officers shall be done by secret ballot. Each active member shall be allowed one vote per office. Cumulative voting shall not be permitted.
Article VIII – Advisors
The organization must have a University advisor. This person must hold at least a bachelor’s degree and be employed as a faculty or staff member by San Jose State University. A Graduate Assistant/Intern may assume the advisor role if approved by the Student Involvement staff.
The advisor shall be a non-voting member of the organization.
The duties of the advisor shall be to:
a.) Assist officers in running the SJSU FMA organization
b.) Recruit faculty for social activities
c.) Serve as mentor to members
d.) In case of election tie, decide who will proceed as the next officer of the disputed role.
Article IX – Meetings
Professional Development Meetings shall be held on Tuesdays from 4:30-5:45 p.m. Group, social, volunteer, or community events shall be scheduled based on members’ availability.
The President shall have the authority to call special meetings if necessary.
A quorum of officers is required to conduct business during a duly called meeting.
A quorum is defined as 75% of the current officers.
Non-elections and non-amendment business matters are decided by a majority vote of the officers, only.
Here, a majority is defined as 75% of the officers’ vote.
Business will be conducted at the President’s discretion.
The parliamentary authority for this organization concerning rules of governance shall be Robert’s Rules of Order, Revised.
Article X – Committees
The President shall have the authority to name committees and committee chairpersons.
Article XI – Dues and Fees
Dues are collected each semester from new and ongoing members. Members may choose to pay their dues for the year in one sum. Membership status is confirmed with FMAI to verify our records match their records.
Article XII – Amendments
Current officers can originate an amendment to the constitution. Active members or the faculty advisor may suggest an amendment, to be presented by a current officer for consideration.
Proposed amendments shall be presented to all officers and faculty members at least two (2) weeks preceding the vote. The recommended amendments will then be finalized through a vote by the members via email.
Amendments will be enacted based on the plurality of the officer and member votes.
Amendments will become effective immediately.
Adopted on: 9/25/14
Signed: Wendy Kha, President Date: 9/25/14