PLEASE NOTE: Legislative Information cannot perform research, provide legal advice, or interpret Maine law. For legal assistance, please contact a qualified attorney.
An Act To Amend the Laws Governing the Membership of the Advisory Committee on College Savings
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 20-A MRSA §11484, sub-§1, as amended by PL 2011, c. 420, Pt. G, §§1 to 5 and affected by §9, is further amended to read:
 
1. Membership.   The advisory committee consists of 78 members as follows:
 
A.   The Treasurer of State, who serves as the chair of the advisory committee;
 
B-2. Two membersOne member appointed by the Governor from at largethe public;
 
C. TwoFour members appointed by the Governor with experience in and knowledge of institutional investment of funds; and
 
E.  One member appointed by the Governor with experience in and knowledge of institutional investment of funds; and
 
F. One memberThree members appointed by the chair of the board who is a memberare members of the board other than the Treasurer of State.
 
The chair of the advisory committee must be appointed annually by the chair of the board.
Sec. 2. 20-A MRSA §11484, sub-§2, as repealed and replaced by PL 2001, c. 417, §20, is amended to read:
 
2. Terms.   Members appointed by the Governor must be appointed for terms of 4 years. Members appointed by the chair of the board are appointed for terms of one year. Members may be removed for cause. The member appointed by the Governor under subsection 1, paragraph B-1 must be appointed for an initial term of 3 years. The member appointed by the Governor under subsection 1, paragraph B-2 must be appointed for an initial term of 4 years.
 
Effective 90 days following adjournment of the 128th Legislature, First Regular Session, unless otherwise indicated.