SB 81 — AN ACT relating to higher education finance and declaring an emergency.

UNOFFICIALCHAPTER COPY5 241 RSCHAPTER 5 ( SB 81/GA81 ) AN ACT relating to higher education finance and declaring an emergency.

(c) ]In addition, the president of the Council on Postsecondary Education, the president of the Association of Independent Kentucky Colleges and Universities, the State Treasurer, the commissioner of education, and the secretary of the Finance and Administration Cabinet, or their designees who shall be another official of the same cabinet or agency, shall serve as voting Page 1 of 9 SB008110.100 - 1260 - XXXX 1/30/2024 3:36 PM GA UNOFFICIAL COPY 24 RS SB 81/GA ex officio members.

(3) The board shall elect from its voting membership a chair, chair-elect, and secretary-secretary-treasurer treasurer who shall each serve for a term of one (1) year.

(a) A majority of the voting members shall constitute a quorum for the transaction of any business, special meetings shall be called by the chair in accordance with KRS 61.823, and either the chair or the chair-electchair- elect shall be present for the transaction of any business.

Meetings of the board shall be open and accessible to the public in accordance with KRS 61.805 to 61.850, and any alternate method of Page 2 of 9 SB008110.100 - 1260 - XXXX 1/30/2024 3:36 PM GA UNOFFICIAL COPY 24 RS SB 81/GA conducting a meeting in lieu of personal attendance shall ensure public access.

Legislative Research Commission PDF Version ACTS OF THE GENERAL ASSEMBLY (7) The board may:

and Page 3 of 9 SB008110.100 - 1260 - XXXX 1/30/2024 3:36 PM GA UNOFFICIAL COPY 24 RS SB 81/GA 2.

and[.] 2.[(b)]2.[(b)]The The secretary of the Finance and Administration Cabinet, or a designee who shall be another official of the same cabinet, who shall serve as an ex officio voting member[Upon resignation or expiration of the term of an appointed member of the board of the corporation and the Kentucky Higher Education Assistance Authority, that member's position shall be abolished to reduce the combined number of appointed members of the boards of the corporation and the Kentucky Higher Education Assistance Authority to ten (10) members].

Page 4 of 9 SB008110.100 - 1260 - XXXX 1/30/2024 3:36 PM GA UNOFFICIAL COPY 24 RS SB 81/GA (5) [Except as provided in subsection (3)(b) of this section, ]In the event of a vacancy, the Governor may appoint a replacement director from nominees submitted by the Governor's Postsecondary[Higher] Education Nominating Committee under KRS 164.005 who shall hold office during the remainder of the term so vacated.

(7) The board shall elect from its voting membership a chair, chair-elect, and secretary-secretary-treasurer. treasurer.

The secretary-treasurer of the corporation shall keep a record of the proceedings of the corporation and shall be custodian of all books, CHAPTER 5 3 documents, and papers filed with the corporation, the minute book or journal of the corporation, and its official seal.

In lieu of personal attendance by members of the Page 5 of 9 SB008110.100 - 1260 - XXXX 1/30/2024 3:36 PM GA UNOFFICIAL COPY 24 RS SB 81/GA board[ of directors] at the same location, the board[ of directors] may conduct meetings by teleconference or other available technological means suitable for conducting its business.

Page 6 of 9 SB008110.100 - 1260 - XXXX 1/30/2024 3:36 PM GA UNOFFICIAL COPY 24 RS SB 81/GA (1) As used in this section:

Legislative Research Commission PDF Version ACTS OF THE GENERAL ASSEMBLY (d) Adopt a corporate seal and change and amend it from time to time;

(e) Make, execute, and effectuate any and all agreements or other documents with Page 7 of 9 SB008110.100 - 1260 - XXXX 1/30/2024 3:36 PM GA UNOFFICIAL COPY 24 RS SB 81/GA the United States Department of Education, this Commonwealth, any federal or state agency, or any person, corporation, association, partnership, or other organization or entity and perform other acts necessary or appropriate for the effectuation of its rights and duties pursuant to this section;

(i)[(j)](i)[(j)]Provide Provide any service to schools or students related to student education loans, including but not limited to the areas of financial awareness, counseling, default aversion or prevention, servicing, and collecting;

(5)[(6)] Board members, except officers or employees of the state, shall receive compensation for their services in the amount of one hundred dollars ($100) per day for attendance at each board meeting and shall be entitled to payment of any reasonable and necessary expenses actually incurred in discharging their duties Page 8 of 9 SB008110.100 - 1260 - XXXX 1/30/2024 3:36 PM GA UNOFFICIAL COPY 24 RS SB 81/GA under this section.

PageSigned 9by ofGovernor 9March SB008110.10014, -2024. 1260 - XXXX 1/30/2024 3:36 PM GA