H1884 Summary

• Increases the State Education Assistance Authority (SEAA) board from 7 members to 9 members, with 7 appointed by the Governor and 2 serving ex officio.

• Specifies expertise requirements for Governor-appointed members: 3 with secondary or higher education expertise, 2 with finance expertise, 1 public member interested in higher education, and 1 chief financial officer from a North Carolina Independent Colleges and Universities member institution.

• Adds ex officio members: the chief financial officer of The University of North Carolina and the chief financial officer of the North Carolina Community College System.

• Changes board quorum requirement from 4 directors to 5 directors and establishes 4-year terms for all Governor-appointed members.

• Allows current board members to complete their existing terms, with vacancies filled according to a staggered schedule based on expertise categories through January 2013.