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Authority of the previous member. Such successor member shall serve for the remainder of the unexpired term. (f) Members and their successors shall take and subscribe to an oath of office before an officer authorized to administer oaths, which oath shall be filed with the Commission. (g) Any member may be suspended or removed from office by that member's Appointing Authority or a majority vote of the other members for cause affecting that member's duties and responsibilities as a member; for misfeasance, malfeasance, or nonfeasance in office; or for conduct tending to undermine any decisions of the Commission, or for conduct exposing the Commission to liability for damages. (h) Except for malfeasance, members shall not be personally liable, in any manner, for their acts or omissions as members. (i) Each member may continue to serve until a successor has been duly appointed and qualified, but not for more than 60 days beyond the end of the term. "Section 5.54. Meetings; Reimbursement; Procedures. (a) The organization and business of the Commission shall be conducted as provided in this Article. (b) Members shall constitute the governing board of the Commission and may, among other things and from time to time, adopt suitable bylaws not inconsistent with the provisions of this act. (c) Each member, including the chair, shall have one vote. A majority of the members in office shall constitute a quorum, and, unless otherwise provided in this act, all actions of the Commission shall be determined by a majority vote of the members present and voting in a duly called meeting at which a quorum is present. (d) The Commission shall hold meetings at least monthly at such times and places as it from time to time may designate and at such other times on the call of the chair or by six members of the Commission; provided, a monthly meeting need not be held if it is determined by the chair or seven members that such meeting is not required. (e) Members may receive payment or reimbursement for travel, lodging, and meal expenses incurred in transacting business on behalf of the Commission. Members may also receive free parking at any airport owned, leased, subleased, or controlled by the Commission, which members may use for official purposes during the respective member's term of office. (f) All meetings and closed sessions of the Commission shall be conducted in accordance with Article 33C of Chapter 143 of the General Statutes as it may be amended or in accordance with any successor statute. "Section 5.55. Officers and Funds. (a) The members of the Commission shall elect annually from their membership a chair, vice- chair, and shall elect a secretary and such other officers as they deem appropriate and otherwise provide for the efficient administration of the Commission's affairs; provided, however, the Commission may provide by resolution that the finance officer of the City shall by virtue of that office be also the finance officer of the Commission, and in such case shall serve as such finance officer without additional compensation. All funds of the Commission shall be kept by its treasurer in a separate bank account or accounts from other Rinds of the City and shall be paid out only in accordance with procedures established by such Commission. Quarterly operating statements of the Commission and an annual audited statement shall be presented to the Council. The Commission shall be deemed a "special district," as defined in G.S. 159 -7, for purposes of the Local Government Budget and Fiscal Control Act and shall budget and administer its fiscal affairs according to the provisions of that act applicable to special districts. (b) The fiscal year of the Commission shall begin on July 1 and end on June 30. On or before May 15 of each year, the Commission shall prepare and adopt a proposed budget for the next ensuing fiscal year and deliver copies of such proposed budget to the Cabarrus, Gaston, Iredell, Lincoln, Mecklenburg, and Union County Boards of Commissioners and the Charlotte City Council. In order to effectuate a seamless start -up of operation of the airport by the Commission, the initial budget of the Commission shall be the budget established by the Council for the Airport for the period July 1, 2013, through June 30, 2014, until the initial budget shall be revised by the Commission. The financial affairs of the Commission shall be governed by the Local Government Finance Act. The Commission shall have fi►Il control of the budget of the Airport. "Section 5.56. Powers and Duties. Senate Bill 380- Ratified Session Law 2013 -358 a e 3 A ac ent number 1 H -1 Page 439