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Constitution

Preamble

Student Actuaries at Michigan (SAM) is organized to support Actuarial and Financial Mathematics majors academically, socially and athletically.

I. Name

The official name of the organization shall be Student Actuaries at Michigan, henceforth referred to as SAM.

II. Purpose

The threefold purpose of the SAM is:

  1. Support the academic endeavors of Actuarial and Financial Mathematics students;
  2. Provide a social program for members of SAM; and
  3. Allow members to participate in intramural sports.

III. Membership

Section 1

There are no restrictions on membership. All University of Michigan students are eligible to join SAM.

Section 2

One becomes a member by paying annual dues within thirty days of the mass meeting at the beginning of the year. Principally, students with interest in Actuarial and Financial Mathematics are targeted. The only exception is for students who transfer to the University of Michigan starting in the winter semester.

Section 3

All graduating members and any member who declines to pay renewal dues effectively withdraws from the organization.

IV. Officers

Section 1

Officers are President, Vice President, Secretary, Treasurer, 2 Career Center Co-Chairs, Intramural Sports Chair, Social Chair, and Webmaster.

President

  • Oversees the general operations of SAM
  • Schedules and conducts all official meetings
  • Delegates tasks to other officers and members
  • Assures that this constitution is enforced according to proper procedures

Vice President

  • Acts as a substitute of the President when the President is unable to be present at a meeting of official business
  • Assists the President in performing official duties

Secretary

  • Maintains accurate records of all meetings

Treasurer

  • Keeps accurate records of all financial transactions
  • Prepares a budget

Career Center Co-Chairs

  • Acts as liaison between SAM members, the Career Center and prospective employers

Intramural Sports Chair

  • Organizes sport related activities for members, including intramural sports

Social Chair

  • Makes arrangements and oversees all social events, excluding sporting events

Webmaster

  • Designs and maintains a website for SAM

Section 2

The offices constitute an executive committee. There are no other standing committees.

Section 3

The advisor provides ongoing guidance for SAM and acts a liaison between the Department of Mathematics and SAM. The advisor holds the title of Director of Actuarial/Financial programs with the Department of Mathematics.

V. Operations

Section 1

Any member of SAM is eligible for any office.

Section 2

Officers of SAM are elected by a vote of the members through an electronic election administered by the advisor and president. Contested offices are resolved by written ballot.

Section 3

Officers take their newly elected positions and the end of the academic year in which they are elected.

Section 4

The advisor monitors the election process, offer advice, and answer questions.

VI. Finances

Section 1

SAM is financed through dues and financial supports from the Department of Mathematics.

Section 2

The Treasurer and the President in coordination with the advisor are responsible for the organization's finances.

VII. Amendments

Section 1

Amendments can be proposed during the Annual Meeting. Amendments must be proposed in writing.

Section 2

Any member of SAM may propose an amendment.

Section 3

If an amendment is proposed, a special meeting shall be held one week later to vote on the proposed amendment by paper ballot.

VIII. Registration Renewal

Section 1

Elections are held annually in April. The new executive committee is responsible to renew the registration of SAM no later than the end of the following September.

IX. Removal of Membership

Section 1

Officers may be removed due to negligence, failure to perform duties, violation of the constitution, failure to meet the standards of membership, failure to comply with policies of the University and criminal acts. The advisor may be removed through negotiation with the Chair of the Department of Mathematics.

Section 2

Officers will be removed following discussion between the remaining officers and the advisor. If an officer does not voluntarily resign, a special meeting of the membership shall be held to consider the removal of the officer.

Section 3

Members of SAM can be removed due to failure to meet membership standards, violation of the constitution, and failure to comply with policies of the University.

Section 4

Members not on the executive committee will be removed following a hearing if requested by the affected member.

X. By-Laws

Currently, SAM has no bylaws.

SAM has read and fully complies with the University's policies. We understand that the organization's registration is contingent on acceptance of these policies.