Financial Management Association
BYLAWS

ARTICLE 1. - NAME
The name of this organization shall be the Financial Management Association of Clarion
University.
ARTICLE 2. – PURPOSE
The formation of this organization is to recognize the importance of finance and financial
planning. The understanding of proper financial management and planning is key part to a
successful future. The benefits of being a part of this organization include having a better
understanding of finance and the key roles planning and proper management play in preparing
for the future. Students will want to join the Financial Management Association to learn
concepts of financial planning and to understand the ins and outs of the finance world.
ARTICLE 3. – MEMBERSHIP
Section 1.
A qualification of joining the club is to be a student of Clarion University. Any major or is
welcomed into the Financial Management Association. The president of the organization can be
contacted to discuss membership.
Section 2.
There will be no membership fees for the Financial Management Association.
Section 3.
Members of the organization will be dismissed if they show any forms of disrespect to the
organization advisor, organization officers, any members of the organization, or Clarion
University.
ARTICLE 4. – DUTIES AND ELECTIONS OF THE OFFICERS
Section 1.

President: The president’s duty is to preside over all meetings and events. The president will
ensure all events run smoothly so the organization maintains a good image. The president may
also be in charge of overseeing all other member activities and is the one to who all of the
other officers must report. The president will only vote on questions before the organization
when said vote will impact the outcome. The president may vote to break a tie, to cause a tie
which would make the question fail, or on a question requiring two-thirds majority where the
president’s vote will cause or block the question’s attainment of two-thirds majority.
Vice President: The vice president is to assume to assume the duties of the president in the
event of the president’s absence or in the event of a vacancy. The vice president is to also
organize fund raising events and speaker presentations.
Secretary: the secretary plans or distributes scheduling information for meetings and other
activities. The secretary takes minutes at meetings and makes them available when necessary.
Treasurer: The treasurer is in charge of all financial aspects of the organization. The treasurer
also prepares and provides financial statements to the organization and tracks all deposits,
expenses and other financial dealings.
Section 2.
Elections will take place at the beginning of each school year. The campus advisor will run the
election during the second meeting of the organization. Whoever would like to run for an office
position may run in the election. Members will vote for whom they think deserves the position.
Section 3.
The majority vote of each officer position will be elected to that position. The majority vote is
taken to assure a fair election.
ARTICLE 5. - ROLE OF CAMPUS ADVISOR
Section 1.
The advisor selected to the Financial Management Association is to be a professor of the
business department. He or she will have the knowledge and experience of financial
management and planning. The job of the advisor will be to assist the organization in any way
the members need assistance. The advisor will serve at the pleasure of the organization.
Section 2.
The organization will mainly be run through the students. The advisor has the power to make
suggestions and help the officers wherever they see fit.

ARTICLE 6. – MEETINGS
Section 1.
Meetings will be held on the second Wednesday of each month during the semester. Written
notice of such meetings must be sent at least one week prior to the meeting.
Section 2.
Quorum shall be a majority of the voting membership of the organization.
Section 3.
A majority will be constituted by greater than 50% of the vote at a meeting where the
organization has achieved quorum.
Section 4.
A possible agenda of a meeting will include:
(a)
(b)
(c)
(d)
(e)
(f)

discussing fund raiser ideas;
discussing possible speakers or listen to a professional speak about the industry;
electing officer for the upcoming year;
discussing tours and conferences to attend;
discussing competitions to participate in;
conducting other business and seeking feedback and additional ideas from members

Section 5.
In the case of not being able to meet on the second Wednesday of a month a special meeting
may be called. In the case of a special meeting, members will be notified by the organization
president. The president will send out an email to notify members about a new meeting date
and time.
ARTICLE 7. – FINANCES AND FUNDING
Section 1.
There will be no dues or fees collected for the Financial Management Association.
Section 2.
If funds want to be requested, the organization will submit a budget to the Student Senate to
be approved.

Section 3.
The club will be self-supporting. Throughout each semester the club will participate in
fundraising activities.
ARTICLE 8. – AMENDING, SUSPENDING, AND ACCEPTING
Under a circumstance where the bylaws would need to be changed, a two-thirds majority is
needed by the organization’s membership. Bylaws can be change if seen fit by the officers such
as if dues want to be collected, additional officer roles, requesting funds, etc.
The organization may vote to suspend the rules, such a motion requires a two-thirds majority to
pass.
The organization shall conduct its business in accordance with Robert’s Rules of Order Newly
Revised.
All changes to the Bylaws must be approved by the Student Senate, the Vice President of
Student Affairs, and the President of Clarion University.
ARTICLE 9. – RATIFICATION
These Bylaws, and its amendments, shall become effective upon ratification by the members of
the Financial Management Association and following the approval of the Student Senate of
Clarion University of Pennsylvania, the vice president for student & university affairs, and the
president of Clarion University.