The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
002
:
BOARD OF DIRECTORS
(Cite as: 16 V.S.A. § 2831)
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§ 2831. Membership; vacancies
The Corporation shall be governed and all of its powers exercised by a Board of Directors
consisting of 11 members. The Governor shall appoint five members as follows: one
person to be the financial aid officer of an institution of postsecondary education
in the State of Vermont; one person to be a guidance counselor from a Vermont secondary
school; and three members representing the general public. In making the appointments
of the members representing the general public, the Governor shall give due consideration
to the Board’s needs for expertise and experience in the management of a financial
institution. The State Treasurer or his or her designee shall be a member. The Speaker
of the Vermont House of Representatives and the Committee on Committees of the Vermont
Senate shall each appoint one member from their respective legislative bodies to serve
on the Board. The Board shall elect three additional members. All members shall be
of full age, citizens of the United States, and residents of Vermont. All appointments
shall be for terms of six years with the exception of legislative members whose terms
shall expire at the end of six years or when their service in the Vermont General
Assembly is completed, whichever shall first occur. The date of the expiration of
the term of appointment in each case shall be June 30. Vacancies that may occur by
reason of death or resignation shall be filled in the same manner as original appointments. (Added 1965, No. 198, § 4(a), (b), (i); amended 1967, No. 131, § 2; 1989, No. 283 (Adj. Sess.), § 1; 2003, No. 86 (Adj. Sess.), § 6; 2011, No. 40, § 54, eff. May 20, 2011; 2019, No. 131 (Adj. Sess.), § 100.)