Bylaws

Chapter 7. Committees

BYLAW 705. FINANCE COMMITTEE.

[Adopted effective March 12, 1984. Effective dates of amendments: June 13, 1986; January 1, 1990; November 16, 2009; February 20, 2014; August 1, 2016; February 15, 2024.]

There shall be a Finance Committee not having or exercising any authority of the Board, to advise the Executive Committee and Board on matters of NFA financial policy including the establishment of major plans and priorities regarding the commitment and expenditure of NFA funds and the establishment of dues, assessments, fees and other charges upon Members and others. The Nominating and Governance Committee shall recommend Directors to serve on the Finance Committee. Upon consideration of the recommendation, the Board shall appoint members of the Finance Committee. The Finance Committee shall consist of seven members as follows:

(a) NFA's President; and

(b) Six (6) Directors as follows:

(i) One (1) Director representing contract markets;

(ii) One (1) Director representing FCMs, LTMs or IBs;

(iii) One (1) Director representing SDs, RFEDs or MSPs;

(iv) One (1) Director representing CPOs or CTAs; and

(v) Two (2) Directors who are Public Representatives (See Article XVIII).

The members of the Finance Committee described in paragraph (b) above shall serve for one year, which may be renewed by the Board, or until the member's successor is appointed and qualified, or until the member's death, resignation, ineligibility or removal. A vacancy in the Finance Committee shall be filled by the Board. A Finance Committee member may be removed by the Board whenever, in its judgment, the best interests of NFA will be served thereby.