N.Y. ACA Law § 21.05 — New York Code / Act ACA / Title E / Article 21 / Section 21.05
Creation and administration of the trust
Status: in_force

§ 21.05. Creation and administration of the trust. 1. There is hereby\ncreated the trust for cultural resources of the city of New York which\nshall have all the powers, rights, privileges and exemptions of a trust\nfor cultural resources described in article twenty of this chapter and\nthis article.\n  2. The board of trustees of the trust shall consist of nine trustees,\nas follows: the deputy mayor of finance and economic development of the\ncity of New York, the chairperson of the New York city industrial\ndevelopment agency, the commissioner of cultural affairs of the city of\nNew York and six trustees to be appointed by the mayor. The mayor shall\ndesignate one of the trustees appointed by the mayor as chairman of the\nboard of trustees. The chairman shall preside over all meetings of the\nboard of trustees, and after consultation with the mayor, the chairman\nmay appoint a trustee who may be the chairman as president and chief\nexecutive officer of the trust. The chairman and the president and chief\nexecutive officer shall have such powers and duties as are set forth in\nthe by-laws of the trust. Trustees appointed by the mayor shall be\nappointed for a term of six years from the effective dates of their\nappointments; provided, however, that the term of office of two trustees\nfirst appointed shall be five years, and the term of office of one\ntrustee first appointed shall be four years. All trustees shall continue\nto hold office until their successors have been appointed. If at any\ntime there is a vacancy in the membership of the board of trustees, by\nreason of death, resignation, disqualification or otherwise, such\nvacancy shall be filled for the unexpired term in the same manner as the\noriginal appointment. The mayor may remove any trustee from office for\ncause.\n  3. The deputy mayor for economic development and rebuilding of the\ncity of New York, the chairperson of the New York city industrial\ndevelopment agency and the commissioner of cultural affairs of the city\nof New York each may designate a person from his or her staff or agency\nto represent him or her at all meetings of the board of trustees of the\ntrust for cultural resources for the city of New York from which such\ntrustee may be absent. Any representatives so designated shall have the\npower to attend and to vote at any meeting of the board of trustees of\nsaid trust from which the trustee so designating him or her is absent,\nwith the same force and effect as if the trustee designating such\nrepresentative were present and voting. Such designation shall be by\nwritten notice signed by the trustee making the designation and\ndelivered to the chairman of the board of trustees of the trust for\ncultural resources for the city of New York. The designation of each\nsuch person shall continue until revoked at any time by written notice\nsigned by the trustee making the designation or his or her successor in\noffice. Such designation shall not limit the power of the trustee making\nthe designation to attend and vote in person at any meeting of the board\nof trustees of the trust for cultural resources for the city of New\nYork.\n  4. Notwithstanding any other provision of law, any person serving as\nan ex officio member of the board of trustees of the trust for cultural\nresources for the city of New York, may also serve as an ex officio\nmember of the board of trustees, or equivalent body, of any\nparticipating cultural institution. Notwithstanding any other provision\nof law, the trust for cultural resources for the city of New York may\nenter into a financing agreement with a participating cultural\ninstitution if more than one person serving on the board of trustees, or\nthe equivalent body, of such participating cultural institution serves\nconcurrently on the board of trustees of the trust for cultural\nresources for the city of New York, provided, however, that no more than\none such person serves other than in an ex officio capacity. Any trustee\nof the trust for cultural resources for the city of New York who is\nconcurrently serving on the board of trustees, or equivalent body, of a\nparticipating cultural institution shall refrain from participating in\ndiscussions or voting on matters pertaining to such participating\ncultural institution, except that any such trustee of the trust for\ncultural resources for the city of New York who is serving concurrently\nas an ex officio member of the board of trustees of such trust and as an\nex officio member of the board of trustees, or the equivalent body, of\nsuch participating cultural institution may participate in discussions\nand voting on matters pertaining to such participating cultural\ninstitutions while attending any regularly scheduled meeting or duly\ncalled special meeting of the board of directors for the trust for\ncultural resources for the city of New York.\n