(1) As used in this subchapter, “general business manager” means a chief financial officer or business manager, however the position is titled, who: Is responsible for the fiscal operations of a public school district; and
(2) Performs duties under the direction of a superintendent of a public school district.
(3) A general business manager for a public school district shall meet the minimum qualifications established by Division of Elementary and Secondary Education rules.
(4) These division rules shall ensure minimum qualifications that support the implementation of best financial management practices for public school districts.
(5) A general business manager who was hired before July 31, 2007, is exempt from subsection (b) of this section.