Section 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 insurance; 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 insurance, 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.