Trust Board Sample Clauses

Trust Board. Sec. 4.1. The Trust Board shall be responsible for administering the Fund, and may request and receive the advice and recommendations of the Advisory Committees. The total number of Trustees on the Trust Board shall be seven (7), consisting of the Chairperson of the ASBSD Board of Directors and six (6) members elected from the Trust’s participating members. All Trustees, except the Chairperson of the ASBSD Board of Directors, must be School Board members of a participating member of one or more of the three sub-funds referenced under Article III, Membership. Each of the three sub-funds should have representation on the Trust Board. Each Trustee on the Trust Board, except the Chairperson of the ASBSD Board of Directors, will serve a three-year term. Trustees may serve consecutive terms. Terms shall be staggered and begin on a fiscal year. A Trustee may be removed for good cause by the Trust Board. In the event a vacancy occurs, such vacancy shall be filled by all remaining Trust Board members until such time as a successor is appointed. The remaining Trustees shall appoint a replacement who shall fulfill the unexpired term of the person who is replaced.
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