N.Y. Arts and Cultural Affairs Law § 21.05: Creation and administration of the trust

§ 21.05. Creation and administration of the trust. 1. There is hereby

created the trust for cultural resources of the city of New York which

shall have all the powers, rights, privileges and exemptions of a trust

for cultural resources described in article twenty of this chapter and

this article.

2. The board of trustees of the trust shall consist of nine trustees,

as follows: the deputy mayor of finance and economic development of the

city of New York, the chairperson of the New York city industrial

development agency, the commissioner of cultural affairs of the city of

New York and six trustees to be appointed by the mayor. The mayor shall

designate one of the trustees appointed by the mayor as chairman of the

board of trustees. The chairman shall preside over all meetings of the

board of trustees, and after consultation with the mayor, the chairman

may appoint a trustee who may be the chairman as president and chief

executive officer of the trust. The chairman and the president and chief

executive officer shall have such powers and duties as are set forth in

the by-laws of the trust. Trustees appointed by the mayor shall be

appointed for a term of six years from the effective dates of their

appointments; provided, however, that the term of office of two trustees

first appointed shall be five years, and the term of office of one

trustee first appointed shall be four years. All trustees shall continue

to hold office until their successors have been appointed. If at any

time there is a vacancy in the membership of the board of trustees, by

reason of death, resignation, disqualification or otherwise, such

vacancy shall be filled for the unexpired term in the same manner as the

original appointment. The mayor may remove any trustee from office for

cause.

3. The deputy mayor for economic development and rebuilding of the

city of New York, the chairperson of the New York city industrial

development agency and the commissioner of cultural affairs of the city

of New York each may designate a person from his or her staff or agency

to represent him or her at all meetings of the board of trustees of the

trust for cultural resources for the city of New York from which such

trustee may be absent. Any representatives so designated shall have the

power to attend and to vote at any meeting of the board of trustees of

said trust from which the trustee so designating him or her is absent,

with the same force and effect as if the trustee designating such

representative were present and voting. Such designation shall be by

written notice signed by the trustee making the designation and

delivered to the chairman of the board of trustees of the trust for

cultural resources for the city of New York. The designation of each

such person shall continue until revoked at any time by written notice

signed by the trustee making the designation or his or her successor in

office. Such designation shall not limit the power of the trustee making

the designation to attend and vote in person at any meeting of the board

of trustees of the trust for cultural resources for the city of New

York.

4. Notwithstanding any other provision of law, any person serving as

an ex officio member of the board of trustees of the trust for cultural

resources for the city of New York, may also serve as an ex officio

member of the board of trustees, or equivalent body, of any

participating cultural institution. Notwithstanding any other provision

of law, the trust for cultural resources for the city of New York may

enter into a financing agreement with a participating cultural

institution if more than one person serving on the board of trustees, or

the equivalent body, of such participating cultural institution serves

concurrently on the board of trustees of the trust for cultural

resources for the city of New York, provided, however, that no more than

one such person serves other than in an ex officio capacity. Any trustee

of the trust for cultural resources for the city of New York who is

concurrently serving on the board of trustees, or equivalent body, of a

participating cultural institution shall refrain from participating in

discussions or voting on matters pertaining to such participating

cultural institution, except that any such trustee of the trust for

cultural resources for the city of New York who is serving concurrently

as an ex officio member of the board of trustees of such trust and as an

ex officio member of the board of trustees, or the equivalent body, of

such participating cultural institution may participate in discussions

and voting on matters pertaining to such participating cultural

institutions while attending any regularly scheduled meeting or duly

called special meeting of the board of directors for the trust for

cultural resources for the city of New York.