18A:71B-100 Board of trustees.
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/nj/title-18a/chapter-71b/18a-71b-100A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
3. a. The board of trustees of the Military Dependents Scholarship Fund shall consist of the State Adjutant General, or a designee, the State Treasurer, or a designee, the executive director of the Higher Education Student Assistance Authority, or a designee, the Secretary of Higher Education, or a designee, and nine public members appointed as follows: two by the President of the Senate, who shall not be of the same political party, two by the Speaker of the General Assembly, who shall not be of the same political party, and five by the Governor, with the advice and consent of the Senate, no more than three of whom shall be of the same political party.
At least five of the public members shall be persons who were directly affected by Operation Noble Eagle, Operation Enduring Freedom, Operation Iraqi Freedom, or Operation New Dawn. Two of the public members shall be named by the Governor to serve as co-chairpersons of the board.
b. Each public member of the board shall serve for a term of three years and until a successor shall have been appointed and qualified; except that of the first members appointed, two shall serve for one year, three shall serve for two years and four shall serve for three years. Any vacancy in the membership of the board shall be filled in the same manner as the original appointment for the remainder of the unexpired term.
c. Members of the board shall serve without compensation. Reasonable expenses of the board shall be paid out of the fund proceeds, subject to approval by the State Treasurer.
d. The board shall have the following duties and responsibilities:
(1)determine eligibility for a scholarship from the fund;
(2)determine the amount of each scholarship award;
(3)report annually to the Governor and the Legislature on the performance of its duties in accordance with the provisions of this act;
(4)solicit and raise private funds to finance the Military Dependents Scholarship program; and
(5)receive and disburse such contributions to the fund as may be forthcoming from private and public sources.
L.2015, c.117, s.3.