§ 160-bbb. Independent livery driver benefit fund. 1. There is hereby
created a not-for-profit corporation to be known as the New York
independent livery driver benefit fund. To the extent that the
provisions of the not-for-profit corporation law do not conflict with
the provisions of this article, or with the plan of operation
established pursuant to this article, the not-for-profit corporation law
shall apply to the fund, which shall be a type C corporation pursuant to
such law. If an applicable provision of this article or of the fund's
plan of operation relates to a matter embraced in a provision of the
not-for-profit corporation law but is not in conflict therewith, both
provisions shall apply. The fund shall perform its functions in
accordance with its plan of operation, and shall exercise its powers
through a board of directors established pursuant to this article.

2. Within thirty days of the effective date of this article, there
shall be appointed a board of directors of the fund, consisting of nine
directors appointed by the governor, one of whom shall be chosen upon
nomination of the temporary president of the senate; one of whom shall
be chosen upon nomination of the speaker of the assembly; one of whom
shall be chosen upon nomination of the chair of the workers'
compensation board; one of whom shall be chosen on nomination of the
superintendent of financial services; one of whom shall be chosen on
nomination of the American Federation of Labor-Congress of Industrial
Organizations of New York; and four of whom shall be chosen without
prior nomination, at least two of which shall be a livery registrant or
owner, officer or director of a livery base or livery registrant. The
initial terms of directors shall be staggered, the four directors
appointed by the governor without prior nomination serving for initial
terms of three years from the effective date of this article, the two
directors appointed upon nomination of the speaker of the assembly and
temporary president of the senate serving for initial terms of two years
from the effective date of this article, and the three directors on
nomination of the superintendent of financial services, the chair of the
workers' compensation board and the American Federation of
Labor-Congress of Industrial Organizations of New York serving for
initial terms of one year from the effective date of this article. The
subsequent terms of all directors shall be three years. The board of
directors shall have the power to remove for cause any director. The
failure of any nominating authority to appoint a director within the
time set by this subdivision shall not bar the fund from operating, so
long as at least six directors have been appointed.

3. The directors shall elect annually from among their number a chair
and a vice chair who shall act as chair in the chair's absence.

4. For their attendance at meetings, the directors of the fund shall
be entitled to compensation, as authorized by the directors, in an
amount not to exceed two hundred dollars per meeting per director and to
reimbursement of their actual and necessary expenses.

5. Directors of the fund, except as otherwise provided by law, may
engage in private or public employment or in a profession or business.

6. (a) All of the directors shall have equal voting rights and five or
more directors shall constitute a quorum. The affirmative vote of four
directors shall be necessary for the transaction of any business or the
exercise of any power or function of the fund.

(b) A vacancy occurring in a director position shall be filled in the
same manner as the initial appointment to that position, provided
however that no individual may serve as director for more than three
successive terms.

(c) The board of directors may:

(i) delegate to one or more of its directors, officers, agents or
employees such powers and duties as it may deem proper;

(ii) establish the procedure by which the fund shall determine how to
provide the benefits due pursuant to this article;

(iii) establish accounting and record-keeping procedures for all
financial transactions of the fund, its agents and the board of
directors;

(iv) establish a procedure for determining and collecting the
appropriate amount of assessments under and as consistent with this
article;

(v) set forth the procedures by which the fund may exercise the audit
rights granted to it under this article;

(vi) establish procedures to ensure prompt and accurate notification
to the fund by independent livery bases of all deaths of independent
livery drivers, and all injuries to livery drivers that resulted from a
crime for which there is a police report, and provide for full
reimbursement of the fund by any member whose failure to provide such
notification results in the imposition of a penalty on the fund by the
workers' compensation board;

(vii) recommend changes in the law or regulations governing workers'
compensation benefits with livery drivers; and

(viii) engage in such additional actions as the board of directors may
deem necessary or proper for the execution of the powers and duties of
the fund.