New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter LXIX - Interest On Lawyer Account Fund
Part 7000 - Trustees' Regulations And Procedures
Section 7000.5 - Powers and duties of trustees
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 7000.5
Current through Register Vol. 46, No. 12, March 20, 2024
(a) In the exercise of the authority granted the trustees, the trustees have the power to:
(1) receive, hold and distribute the moneys
remitted to the IOLA fund pursuant to the provisions of section
497 of the Judiciary Law and to receive such
other moneys and property received from any source, including voluntary
contributions, together with any interest accrued thereon. All such revenue not
distributed shall be secured and invested as required by the provisions of
sections
97-v and
98 of the State Finance Law;
(2) require eligible banking institutions
that apply to be considered eligible to accept the deposit of IOLA funds to
verify their current compliance with New York Judiciary Law 497, New York State
Finance Law 97-v and these regulations and determine eligibility for the
deposit of IOLA funds;
(3) make
available to the public the names of eligible banking institutions;
(4) allocate no less than 75 percent of the
net funds distributed after covering administrative expenses in any fiscal year
as grants and contracts to not-for-profit tax-exempt "qualified legal services
providers," as defined by section
7000.12(a)(1)
of this Part, for the provision of civil legal services to the poor allocated
according to the geographic distribution of poor persons throughout the State
based on the latest available figures from the United States Department of
Commerce, Bureau of Census;
(5)
allocate the remaining funds to "administration of justice providers," as
defined by section
7000.12(a)(2)
of this Part, for purposes related to the improvement of the administration of
justice, including but not limited to the provision of civil legal services to
groups currently undeserved by legal services, such as the elderly and the
disabled, and the enhancement of civil legal services to the poor through
innovative and cost-effective means, such as volunteer lawyer programs and
support and training services;
(6)
adopt and amend regulations for the administration of the fund and procedures
for the distribution of grants and contracts;
(7) review applications for grants and
contracts using staff and other available resources;
(8) determine, pursuant to the provisions of
section
97-v of the State Finance Law, the award of
grants and contracts, including the amount to be awarded and the terms under
which the awards of grants and contracts shall be made;
(9) employ and remove, at their pleasure,
employees, agents and consultants and fix their compensation within the amounts
available therefor, but in no event shall more than 10 percent of the funds
available in any fiscal year be spent on personnel and related services,
including necessary nonpersonnel administrative costs of the program; provided,
however, that pursuant to section
97-v of the State Finance Law as amended by
the Laws of 1984, such limitation may be waived by the board of trustees by the
adoption of a resolution, and such waiver shall remain in effect until the
board determines by a subsequent resolution that the program is fully
operational;
(10) furnish the
Governor, the Court of Appeals, the Legislature and the State Comptroller with
an annual report of the activities and operations of the fund; and
(11) perform all other acts necessary or
proper for the fulfillment of the purpose of the fund and its effective
administration, including but not limited to the creation of subcommittees of
the board and the appointment of officers other than chair.
(b) Powers and duties of officers. The duties of the officers of the fund shall be as follows:
(1) the chair shall preside at all meetings
of the trustees, generally supervise the administration of the fund and
exercise such other functions and duties that the trustees may assign or
delegate, or that are customary to the office of the chair;
(2) the vice-chair shall assume the duties of
the chair in the absence or disability of the chair;
(3) the treasurer shall maintain the
financial records of the fund and, jointly with the chair, certify vouchers of
the fund that authorize the State Comptroller to make payments of grants and
contracts; and
(4) the executive
director shall assist the trustees, supervise the implementation of
regulations, coordinate the review of applications, supervise staff, serve as
secretary at meetings and fulfill such other duties as may be assigned or
delegated by the chair or the trustees.
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