Their Relation to Higher Educational Finance 
153 
9 
The Association is to be managed by: 
a. The Executive Committee—Der Vorstand. 
b. The Managing Board—Der Verwaltungsrat. 
c. The General Assembly—Die Hauptversammlung. 
10 
The Executive Committee consists of the President, two vice-presidents, and 
a treasurer. It is to be elected by the Managing Board for three years. A re- 
election is permissible. In case a member of the Committee retires before his 
term is up, the Managing Board is to elect a substitute for the remainder of the 
period. 
11 
The President is the legal representative of the Association. Written or oral 
declarations which involve a pecuniary Obligation of the Association or a disposal 
of fixed property are to be approved by another member of the Executive Com 
mittee. The Executive Committee is to carry on its activities in accordance with 
the by-laws and the decision of the General Assembly and the Managing Board. 
It is to work out its own procedure. 
12 
The President carries on current business and proposes the report for the 
assembly in the meetings. The Treasurer takes care of the treasury either directly 
or indirectly through banks and is responsible for it. The business management 
is to be connected with that of the management of the "Economic Help of the 
German Student Body”. 
13 
The Managing Board is to consist of: 
a. Five representatives of governments of the German Empire, which means 
of the countries that are nominated to send a representative by the Union of some 
of them. 
b. Three representatives of the Association of German Universities selected 
for a period of three years; re-election of a representative is permissible. Out of 
these three one retires every year; the first retirement to be determined by casting 
of lots. 
c. Seven representatives of the German students are nominated by the 
“Economic Help of the German Student Body” for a period of two years; the 
re-election of these representatives is permissible. Out of the six, three retire 
every year; the first retirement to be determined by casting of lots. 
d. Nine representatives of the business world who are elected by the Gen 
eral Assembly out of the members or their representatives for the period of three 
years. Three are retired annually and re-election is permissible. The first retire 
ment to be determined by casting of lots.