Board of Directors Bylaws:

The affairs of the Foundation shall be governed by its Board of Directors. The Board shall have control of and be responsible for the management of the property/assets of the foundation. Board members shall elect a chair and secretary from elected board members.

1. The Board: The Foundation Board of Directors shall consist of no fewer than Three (3) and no more than eleven (11) members, elected for a term of three (3) years with a maximum of two consecutive terms. They will come through a process of elections or appointments approved by the Board. Board members from a single UET batch will preferably be limited to a maximum of two (2) at any given time.
2. The Chairperson:  Chair to the Board shall be elected by the two-thirds majority of the full Board of Directors for three (3) years. The Chairperson shall preside at all meetings of the Board and have all powers and duties incident to such office. The Chairperson shall conduct and have charge of the affairs of the Endowment Fund subject to the approval of the Board. The Chairperson at each meeting of the Board shall provide a summary of actions taken since the last board meeting.
3. Board Member Removal: The Board with the concurrence of a minimum of 3/4 of the board, may remove any member of the Board and elect a successor for the remaining unexpired term. No director shall be removed without an opportunity to be heard and notice of such motion shall be given to the member in writing twenty (20) days prior to the meeting at which the motion shall be presented, setting forth the reasons of the Board for such action. Any of the following, if proven, will constitute a reason for such expulsions:

• • Utilization of the funds or assets for personal use or promotion.
  • Transfer of dividend or profit to members or relatives.
  • Involved in any illegal, unauthorized or unethical activity.
  • Any acts of cartelization, grouping or acts against the interest of the Foundation.
  • Management in a manner to benefit personally or families.
  • Propagation of view of a political party, hate or religious sect.
  • Unsatisfactory performance report by Independent Certification Agency.

4. Board vacancy: In the event of a vacancy due to the death, resignation, or inability to serve by a member of the Board, the Board will elect a person to fill the unexpired term.
5. Election to Board: For election to the Board, consideration will be given to individuals who have experience /expertise in, (a) bringing special skills or talents to the Foundation, (b) have established an endowment or having experience managing a large organization, (c) have experience in fundraising for the endowment or elsewhere, and (d) with primary responsibilities, investment and making prudent spending choices for strengthening the endowment fund.
6. Vice Chair/Secretary– In addition to the chairperson, the Board shall elect a Vice Chair and Secretary from amongst the board members. Vice Chair will perform the duties of the Chair in the absence of the Chair and other duties assigned by the Board as needed. The Secretary shall be responsible for the minutes of all meetings of the Board, shall give notice of all meetings, shall keep all records and papers of the Foundation, and shall conduct the general correspondence and such special communications as directed by the Chair. The Board may assign other duties to the Secretary.
7. Founding Board: Initial seven to eleven (7-15) members of founding board from the UET Alumni shall be nominated for three (3) years. To maintain continuity and diversity of the board, two (2) new board members shall be elected and added each of the first two (2) years to have eleven (11) member board, thereafter (1/3) board members, rounded to the nearest integer, shall be elected each year to replace the outgoing members.