(1) As used in this section, “general business manager” means a chief financial officer or business manager, however the position is titled, who: Is responsible for the fiscal operations of the public school district; and
(2) Performs his or her duties under the direction of the superintendent of schools of the public school district.
(3) On and after July 31, 2007, a general business manager for a public school district shall meet the minimum qualifications established by rule of the Division of Elementary and Secondary Education.
(4) This subsection is intended to require minimum qualifications for a general business manager that support the implementation of best financial management practices for public school districts.
(5) A general business manager who was employed before July 31, 2007, shall be exempt from the provisions of subsection (b) of this section.