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10.1
The Executive Vice President and Treasurer shall be the chief financial officer of the Institute and the officer of the Corporation responsible for stewardship of the Corporation's financial resources. The Executive Vice President and Treasurer shall report on the financial condition of the Corporation to the members at the annual meeting, or more often if determined to be necessary by the Executive Vice President and Treasurer or requested by the Executive Committee. The chair of any investment management company established under these Bylaws or the president or any officer or officers designated by the company’s board shall assist and participate with the Executive Vice President and Treasurer in making such report for the purpose of addressing the investments of the Corporation.
10.1.1
If the Executive Committee does not establish or continue the existence of an investment management company as permitted by Section 16 of these Bylaws, or invests such company with less than all of the functions of such company or the Investment Committee under Sections 10, 11 and 16 of these Bylaws, then, except as otherwise required from time to time by law or by the Executive Committee under these Bylaws, the functions that are not invested in the investment management company shall be carried out by the Executive Vice President and Treasurer subject to and under the authority of the Executive Committee or the Investment Committee, as provided in Section 16.3 and Paragraph 16.3.1.
10.1.2
The Executive Vice President and Treasurer shall have such other powers and duties as the Executive Committee may determine or as these Bylaws or law may require, from time to time.
10.2
The Executive Committee may appoint one or more officers to assist the Executive Vice President and Treasurer, each of whom shall have such title and perform such duties, including any duties of the Executive Vice President and Treasurer, as the Executive Committee may designate.
10.3
The Executive Vice President and Treasurer, and any such other officers to assist the Executive Vice President and Treasurer, shall each give a bond with such sureties and in such amount as shall be determined from time to time by the Executive Committee.
10.4
All checks and proxies shall be signed by the Executive Vice President and Treasurer or such other officer or officers as the Executive Committee may authorize. All other documents may be signed, sealed, acknowledged, and delivered by the Executive Vice President and Treasurer or such other officer or officers as the Executive Committee may authorize, with such approval as may be required by these Bylaws.
10.5
When the Executive Vice President and Treasurer takes action beyond the scope of the financial acts as to which the Executive Vice President and Treasurer reports to any Investment Committee (as provided in Paragraphs 10.1.1, 16.3.5 or any other Section of these Bylaws), (a) the Executive Vice President and Treasurer, or the Executive Vice President if it is a separate office, shall discharge such duties under the administration and superintendence of the President and the Executive Committee, and shall report to the President; and (b) the Treasurer, if it is a separate office, shall discharge such duties under the administration and superintendence of the Executive Vice President and the Executive Committee, and shall report to the Executive Vice President.
10.6
The Executive Vice President and Treasurer shall serve as an ex officio member of the Executive, any Investment, and the Development Committees, as an ex officio director of any investment management company established under these Bylaws, and as an ex officio member of the Corporation.
10.7
In the event that the members establish two offices, the Executive Vice President and the Treasurer, held by different individuals, the Executive Committee shall allocate, or may delegate to the President or the Executive Vice President the authority to allocate, the functions of the Executive Vice President and Treasurer under these Bylaws between the two offices. In such event, the Executive Committee or, by its delegation, the President or Executive Vice President, shall determine whether the Executive Vice President and the Treasurer, or only the Executive Vice President, shall be an ex officio member of the Corporation and serve as an ex officio member of each of the committees of the Corporation on which the Executive Vice President and Treasurer shall serve under these Bylaws. However, the Executive Vice President shall, in any event, be the Chief Financial Officer of the Massachusetts Institute of Technology and shall be an ex officio member of the Corporation, of the Executive, any Investment, and the Development Committees, and an ex officio director of any investment management company established under these Bylaws.
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The Bylaws of the MIT Corporation were most recently amended on October 3, 2008. They are available in an easy-print version (PDF). To view this file, you will need the Acrobat reader.
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