BOARD OF TRUSTEES
Laddie H. Lollar Scholarship
Minutes, November 12, 1994

The first meeting of the Board of Trustees of the Laddie H. Lollar Scholarship Fund, Phi Delta Sigma Fraternity was called to order in the DFAB at Bethel College by Advisor Dr. Laddie Lollar on Saturday, November 12, 1994 at 9:35 a.m.

Those present at the meeting included Adam Davis, Michael Leslie, and R.B. Mays. Members absent were Dr. John Gam and Bob Rutledge. Dr. Lollar declared a quorum present.

Dr. Lollar called for nominations for a chairperson. R.B. Mays was nominated and elected. R.B. then called for nominations for a secretary. Adam Davis and Michael Leslie were nominated. Michael Leslie was elected.

The voting process for choosing Trustees by the fraternity was summarized. It was noted that upon election any alumni member of Phi Delta Sigma Fraternity may become a Trustee.

Each Trustee should have a copy of the Principles Governing Establishing and Awarding of Scholarship, Criteria for Recipient of the Laddie H. Lollar Scholarship, and the Bylaws of the Board of Trustees of the Laddie H. Lollar Scholarship.

Michael suggested the need for a fraternity liason and a provision for such in the bylaws. A motion made by R.B. was passed to vote on the following bylaw amendment at the next meeting:

Article II - Membership

Section 4. The treasurer of Phi Delta Sigma Fraternity shall serve as a non-voting liason
to the Board of Trustees of the Laddie H. Lollar Scholarship.

A motion passed to have our secretary receive the Board of Finance's report on the scholarship fund and distribute the report to each Trustee at least a month before each meeting. Before the next meeting, the secretary will distribute copies of the minutes.

The scholarship is estimated to be in the $8,000 range. The scholarship is given from the interest alone. R.B. shared his personal goal of two $1,000 scholarships from interest alone.

A motion was passed to aim for a Spring meeting possibly in April. R.B. agreed to get in touch with each Trustee to set the date. At the Spring meeting we hope to discuss, among other items, fund raising possibilities for the fund. R.B. closed the meeting with prayer at 10:10 a.m.