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Chapter 7. Committees


[Effective dates of amendments: July 1, 1987; March 15, 1994; October 15, 2001; January 1, 2005; November 16, 2009; February 20, 2014; and August 1, 2016.]

There shall be an Appeals Committee, consisting of five Directors as follows: one Contract Market Director; one FCM, LTM, or IB Director; one CPO/CTA Director; one SD, RFED or MSP Director; and one Public Representative Director (See Article XVIII). A majority of the Committee members shall constitute a quorum. The Committee members shall be nominated by the President and appointed by the Board. The President and the Board shall endeavor to nominate and appoint Directors who reflect the various categories of Members described in the Articles.

The Committee shall hear and decide appeals from and reviews of decisions in disciplinary cases by the Business Conduct Committee or the Hearing Committee under the Compliance Rules and decisions by the Membership Committee or its designated Subcommittee in membership cases under Bylaw 301(g).

Each Committee member shall serve for two years, or until the member's successor is appointed and qualified, or until the member's death, resignation, ineligibility or removal. A Committee vacancy shall be filled by the Board. A Committee member may be removed by the Board whenever, in its judgment, the best interests of NFA will be served thereby.