Bylaws of the Loan Fund of the

Graduate Student Association of Rice University

The Graduate Wives Club Loan Fund, hereafter referred to as the Loan Fund, is operated as a service to the graduate students of Rice University. In order to provide efficient service and to ensure smooth transition during changes of management, the following bylaws are hereby enacted:

Article I: Board of Supervisors

  1. Membership
  2. The President, Vice-President, Treasurer and Secretary of the Graduate Student Association and the Manager of the Loan Fund shall serve as Board of Supervisors.
  3. Removal from and replacements to the Board shall be governed by the Procedures stated in the Constitution of the Graduate Student Association vis-a-vis the appointment and removal of officers of the Association and by these bylaws vis-a-vis the Loan Fund Manager.
  4. Operation of the Board
  5. The President of the Graduate Student Association shall serve as Chairman of the Board.
  6. The Secretary of the Association shall keep minutes of the meetings of the Board.
  7. The Treasurer of the Association shall fulfill those functions deemed necessary by the Board.
  8. A quorum shall consist of a majority of the Board and motions shall carry with a simple majority of those present.
  9. Subject to the approval of the Association Council, the Board shall determine all operating policies and procedures of the Loan Fund, except as already described in these bylaws.

Article II: Selection of Management

The Manager shall be elected as a Graduate Student Association officer, as prescribed by Article V, section B of the GSA Constitution.

Article III: Duties of Management

  1. Loan Policy
  2. The Manager shall make a loan to any graduate student of Rice University when convinced of that person's need and ability to make repayment and when sufficient funds are available in the account of the Loan Fund. The President and Treasurer of the Graduate Student Association shall be empowered to make such loans in the absence of the Manager.
  3. No loan may exceed $250.00.
  4. No loan may be made to a person who has not yet repaid a previous loan.
  5. In order to cover operating costs of the Loan Fund, a use fee of $1.00 for every $50.00 or part thereof of a loan shall be required of any person receiving a loan.
  6. A schedule for repayment shall be fixed upon the making of a loan. A maximum of three months for complete repayment shall be allowed. Management may reschedule the repayment of a loan when convinced that circumstances warrant such action.
  7. Management of the Loan Fund shall send warning notices when a loan payment is sufficiently late to make such action necessary. When three notices have been sent, management may request the University cashier to place a “hold” on the defaulting person, but such action may take place no earlier than six weeks after the due date of the late payment.
  8. All recipients of loans shall be fully apprised of the possible penalties of late payment at the time they receive a loan.
  1. Other Duties
  2. The Manager shall keep all records of the activity of the Loan Fund, these monies being entirely separate from those of the Graduate Student Association and other organizations subsidiary to the Association.
  3. The Manager shall faithfully report to the Board upon the activity and status of the Loan Fund whenever the Board shall request it.
  4. The Manager shall attend all meetings of the Association Council, reporting on the Loan Fund's operations whenever the Council shall request it.
  5. The Manager shall provide a complete report of the Loan Fund's operation at the end of each school year to the Association Council. A written copy of this report shall be submitted to the Secretary of the Association.

Article IV: Amendments

Amendments to these bylaws shall require majority approval of the entire Board and by the Council of the Graduate Student Association.