Constitution
Last Updated: May 13, 2022
We, the Financial Management Association, hereby establish this constitution in order to achieve better cooperation among the business students of San Jose State University’s Lucas College of Business, its alumni, and the academic and business world.
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, and other related business fields.
2. Provide an association for college students actively interested in these fields.
3. Encourage interaction and a close affiliation among business executives, the community, faculty, and students.
4. Further high standards of professional ethics and education in the field of business.
Mission Statement:
The Financial Management Association of San Jose State University provides its members with increased knowledge of business through professional, educational, and social development opportunities. It also seeks to bridge the gap among business executives, the community, faculty, and students.
Vision Statement:
We strive to bridge the gap among business executives, the community, faculty, and students.
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
General Membership
Section 1. 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.
Section 2. Voting membership is restricted to matriculated, currently enrolled students at San Jose State University.
Section 3. At least eighty percent (80%) of all members of the organization must be matriculated, currently enrolled students at San Jose State University.
Section 4. 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. 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).
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, 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, 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).
Section 6: This organization shall comply with Title 5, Section 41301 of the Standards for Student Conduct.
Active Membership
Section 1. 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 fundraising events
c. Attendance at social events
d. Attendance at company tours or workshops
Honorary Membership
Section 1. Honorary membership may be conferred upon persons with singular merit or distinction in an academic or professional capacity.
Section 2. Honorary membership confers all rights and privileges of this organization, except for the rights to vote and to hold office.
Section 3. Honorary members must be approved by a plurality vote of the active members.
Section 4. Honorary members shall not exceed twenty percent (20%) of the total membership.
Faculty Membership
Section 1. There shall be one faculty advisor, and as many co-advisors as needed.
Article V – Officers
Section 1. The FMA Officers shall be the President, Senior Vice President, Vice President of Operations, Treasurer, Vice President of External Affairs, Vice President of Marketing, VP of Creative Development, Director of Membership, Director of Social Events, and Director of Fundraising.
Section 2. 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, Vice President of Operations, and Vice President of Marketing 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.
Section 3. If any office shall become vacant, the officer board shall, at the earliest date thereafter, appoint a replacement. The officer board includes all the members who have been elected with a specific leadership role within the organization. The officer board includes the President, Senior Vice President, Vice President of Operations, Director of Fundraising, Vice President of Marketing, VP of Creative Development, Treasurer, Vice President of External Affairs, Vice President of Membership, and Director of Social Events.
Section 4. All officers must be registered SJSU students, who have paid fees for the upcoming academic year, maintain a minimum 3.0 GPA, and have prior FMA experience (or related experience) unless approved for candidacy by the faculty advisor and/or the officer board.
The candidate running for the Presidency must have prior FMA officer experience and be an active member for the current election period.
Section 5. All officers of the organization must be matriculated, currently enrolled students at San Jose State University. The President and Treasurer of this organization must maintain a minimum overall 2.5 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.
Section 6. The President and Treasurer of this organization are required to complete an Alcohol Education Training offered by Student Involvement.
Section 7. Individuals who are officers in these roles cannot have the same role in another student organization: Vice President of Operations and Vice President 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.
Section 8. No FMA committee shall have more than 50% graduating seniors as their members.
Article VI – Officer Duties
Section 1. President:
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; carry-out other duties that may reasonably fall within the office; and act as the primary liaison between the faculty advisor and the members of the FMA. The President shall transition the next President into office, and be present at all other officers’ transitions. The President is elected for a one year term.
Section 2. Senior Vice President:
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 officer board can elect a permanent replacement, following Constitutional rules. 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. The Senior Vice President shall transition the next Senior Vice President into office, and is elected for a one semester term.
Section 3. Treasurer:
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. Shall monitor the cash inflows and outflows, make financial decisions, approve expenses for the local chapter, apply for grants and funds, record all approved budget and expenditures items, sign checks for any reimbursements, and transition the next Treasurer into office. The Treasurer is elected for a one semester term.
Section 5. 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 (define at a later date) 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.
Section 6. 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; update and maintain a comprehensive alumni database, keep alumni informed about our activities by sending out emails, keep alumni active with our group through alumni-centered social events; alert all active members of each upcoming meeting at least three 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 Director of Membership shall transition the next Director of Membership into office and is elected for a one semester term.
Section 8. Vice President 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. 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; and maintains online calendar of all FMA events. The Vice President of Marketing shall transition the next VP of Marketing into office, and is elected for a one year term. This position requires three samples (define at a later date) in order to qualify for elections: a sample banner, a sample flyer, and a sample rushcard. The Vice President of Marketing is a one year term position starting fall semester only. Under certain circumstances, if the Vice President of Marketing is unable to fulfill their full term, a new Vice President of Marketing will be elected/appointed to fill the remainder of the previous Vice President of Marketing term.
Section 9. 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: company tours and community service events. The Vice President of External Affairs 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.
Section 10. Director of Fundraising:
Shall work to create and execute at least two fundraisers for the purpose of raising funds for the Associated Students account. 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.
Section 12. Director of Social Events: (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 events where officers can meet with members in a casual and fun setting. The Director of Social Events shall transition the next Director of Social Events into office, and is elected for a one semester term.
Article VII – Nominations & Elections
Section 1. Application for officers will be accepted for a two week period beginning one month prior to the last scheduled meeting of the semester.
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.
Section 2. Elections will be held at the end of each regular semester.
Section 3. Members must complete the officer application on time in order to qualify for an officer position. The current President and Senior Vice President will then perform an interview to ensure the qualifications of each potential officer. Members who pass the interview process will then complete an officer bid via PowerPoint form iterating their relevant experience, goals for the desired position, and time commitments to the organization and will be elected by plurality majority vote.
Section 4: 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.
Section 5: 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.
Section 6. All members seeking to become elected for the following officer roles must submit a writing sample in addition to their officer application:
● Vice President of Operations
● Vice President of External Affairs
● Director of Membership
● Director of Fundraising
Article VIII – Advisors
Section 1. 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.
Section 2. The advisor shall be a non-voting member of the organization.
Section 3. 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
Section 1. 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.
Section 2. The President shall have the authority to call special meetings, if necessary.
Section 3. 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.
Section 4. Business will be conducted at the President’s discretion.
Section 5. The parliamentary authority for this organization concerning rules of governance shall be Robert’s Rules of Order, Revised.
Article X – Committees
Section 1. The President shall have the authority to name committees and committee chairpersons.
Article XI – Dues and Fees
Section 1. 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 FMA International to verify our records match their records.
Article XII – Amendments
Section 1. 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.
Section 2. Amendments shall be presented to all officers and faculty advisors via email at least two (2) weeks preceding the vote.
Section 3. Amendments will be enacted based on the plurality of the officer and faculty advisors’ votes.
Section 4. Amendments will become effective immediately.
Adopted on: 9/25/14
Signed: Rishab Singh, President Date: Friday, May 13, 2022