Executive Director: Duties. (a) The Executive Director shall prepare an operating manual to implement the general operation and management policies established by this chapter and by the Board including all internal administration, metering, billing, and collection procedures, privatization plans, and other matters. The manual shall be transmitted to the Board for its approval. (b) The Executive Director shall refer to the Board for review of all matters involving allocation of Corporation funds or property. (c) The Executive Director shall: (1) Monitor the progress toward the improvement of the financial status of utility services. (2) Report to the Board at each Board meeting as to the activities of the Corporation. (3) Prepare an annual report of the Corporation's operation and activities for each fiscal year within three months of the end of the fiscal year, including appropriate financial statements, and submit a draft of the report to the Board for approval. (4) Prepare the annual administrative budget for review and approval by the Board and for submission to the Governor and the Legislature pursuant to 1 CMC § 7206. (5) Hire such employees as the Board may delegate power to do so. (6) Perform such other duties as the Board may require. (d) The Executive Director shall hire a corporate comptroller who shall: (1) Keep the official books and accounts of the Corporation. (2) Prepare an annual report of the financial condition of the Corporation for the Board. (3) Perform such other functions as the Executive Director or the Board may require. (e) The comptroller shall hold at least a bachelor's degree in accounting and five years experience in governmental or financial accounting. (f) The Executive Director, comptroller, and any other officer may be dismissed by affirmative vote of a majority of the authorized voting membership of the Board. Any officer subject to dismissal under this subsection may request a public hearing before the Board; and in the event of such a request, no dismissal shall be effective unless voted by the Board at the conclusion of or subsequent to such hearing. Source: PL 4-47, § 1 (§ 8134); amended by PL 10-27, § 3; amended by EO No. 2006-04, § 4(8134); repealed and reenacted by PL 16-17 § 10(8134). Commission Comment: See the comment to 4 CMC § 8111.
The Commission changed capitalization for conformity pursuant to 1 CMC § 3806(f). Public Law 17-62 (effective December 3, 2011) authorized the Executive Director to act in the absence of the Board regarding a loan to CUC. PL 17-62, in pertinent part, provides: Section 3. CUC Executive Director Power to Loan. Notwithstanding any law or regulation to the contrary, in the absence of a Board of Directors, the Executive Director of CUC shall serve in the place of the Board of Directors with all powers necessary to approve and execute a loan with Independence Bank of East Greenwich, Rhode Island.