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  reelection
  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  Committee. ­
  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  General ­
  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  retirement ­
  to  be  determined  by  casting  of  lots.