Proposed Revision to 505.2 - Montana Higher Education Student Assistance Corporation
Board policy:
1. The Commissioner of Higher Education is
authorized to file with the Secretary of State Articles of Incorporation for
the Montana Higher Education Student Assistance Corporation. Pursuant to designation by the Governor the Corporation serves as
the single nonprofit agency in the state defined in Section 435(d)(1)(D) of
Title IV, Part B of the Higher Education Act of 1965 as amended.
2. The Commissioner of Higher Education is
authorized and directed to serve as President and as an ex-officio non-voting
member of the Board of Directors of the Montana Higher Education Student
Assistance Corporation.
3. Staff in the Office of the Commissioner
of Higher Education is authorized to assist the Commissioner in the conduct of
the management of the Corporation as directed by the Commissioner. The corporation may, upon approval of the
Regents, compensate the Commissioner and other staff persons in reasonable
amounts for services rendered to the corporation. Regents' approval for any specific amount of compensation for an
individual shall not be effective for a period in excess of one year.
History:
Item 26-019-R0380, Articles of Incorporation, Montana Higher Education Student Assistance Corporation, March 10, 1980 (Rescinded); Item 27-001-R0580, May 19, 1980. Item 28-002-R0980, Montana Higher Education Student Assistance Corporation; staffing, September 8, 1980, and December 14, 1989.