Sec. 2-405. Finance Committee.
There shall be a Finance Committee consisting of four (4) Trustees (which may, but need not, include the Chairperson) appointed by the Chairperson. The term of Finance Committee membership of each of the appointees shall be effective from the first day of January, and shall continue for two (2) years and until their successors are duly appointed. One appointee shall be designated by the Chairperson of the Board as the Chairperson of the Committee. Two (2) members of the Finance Committee shall constitute a quorum for the transaction of such business as may properly come before the Finance Committee. No action of the Finance Committee shall be binding on the University or the Board or commit the Board to any policy or action of any kind until and unless duly approved by the Board.