* § 97-v. The New York interest on lawyer account (IOLA) fund. 1.\nThere is hereby established in the custody of the state comptroller a\nfiduciary fund to be known as the New York interest on lawyer account\n(IOLA) fund. A board of trustees shall be appointed to administer the\nNew York IOLA fund.\n 2. The board shall consist of fifteen members appointed by the\ngovernor. All members shall be residents of the state of New York and\nshall be knowledgeable and supportive of the delivery of civil legal\nservices to the poor and the improvement of the administration of\njustice. At least eight of the members shall be attorneys licensed to\npractice law in the state of New York. Two members shall be appointed\nupon the recommendation of the temporary president of the senate, at\nleast one of whom shall be an attorney; two members shall be appointed\nupon the recommendation of the speaker of the assembly, at least one of\nwhom shall be an attorney; one member shall be appointed upon the\nrecommendation of the minority leader of the senate; and one member\nshall be appointed upon the recommendation of the minority leader of the\nassembly. Two members shall be appointed upon the recommendation of the\ncourt of appeals, each of whom shall be an attorney. The governor shall\ndesignate one of the members of the board as chairman.\n a. The term of office shall be three years, provided, however, that of\nthe members first appointed, five shall be appointed for terms expiring\non December thirty-first, nineteen hundred eighty-four, five shall be\nappointed for terms expiring on December thirty-first, nineteen hundred\neighty-five and five shall be appointed for terms expiring on December\nthirty-first, nineteen hundred eighty-six. Vacancies shall be filled in\nthe manner of original appointments for the remainder of the term.\n b. The members shall receive no compensation for their services as\nmembers, but shall be reimbursed for their actual and necessary expenses\nincurred in the performance of their duties.\n c. The members shall be considered employees of the state for the\npurposes of section seventeen of the public officers law.\n d. No member of the senate or assembly shall be eligible to serve as a\nmember of the board.\n 3. a. The board shall have the power to receive, hold and manage any\nmoneys and property received from any source. It shall distribute funds\nas grants and contracts to not-for-profit tax-exempt entities for the\npurpose of delivering civil legal services to the poor and for purposes\nrelated to the improvement of the administration of justice, including,\nbut not limited to, the provision of civil legal services to groups\ncurrently underserved by legal services, such as the elderly and the\ndisabled, and the enhancement of civil legal services to the poor\nthrough innovative and cost-effective means, such as volunteer lawyer\nprograms and support and training services.\n b. No less than seventy-five percent of the total funds distributed in\nany fiscal year shall be allocated to not-for-profit tax-exempt\nproviders for the purpose of delivering civil legal services to the\npoor. The funds distributed annually to legal services providers shall\nbe allocated according to the geographical distribution of poor persons\nthroughout the state based on the latest available figures from the\nUnited States department of commerce, bureau of census, as prescribed by\nrules and regulations of the board of trustees.\n c. The remaining funds shall be allocated for purposes related to the\nimprovement of the administration of justice, including, but not limited\nto, the provision of civil legal services to groups currently\nunderserved by legal services, such as the elderly and the disabled, and\nthe enhancement of civil legal services to the poor through innovative\nand cost-effective means, such as volunteer lawyer programs and support\nand training services.\n d. The board shall adopt rules and regulations for th
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