2006 New York Code - Board Of Trustees.

 
    §  13-302  Board of trustees. a. A board of trustees shall be the head
  of the New York  fire  department  pension  fund  and,  subject  to  the
  provisions  of  law  and to the prior approval of the board of estimate,
  from time  to  time  shall  establish  rules  and  regulations  for  the
  administration  and transaction of the business of such fund and for the
  control and disposition thereof. Such board shall consist of:
    1. The fire commissioner who shall be chairperson of the board and who
  shall be entitled to cast three votes.
    2. The comptroller of the city who shall be  entitled  to  cast  three
  votes.
    3.  A  representative of the mayor who shall be appointed by the mayor
  and who shall be entitled to cast three votes.
    4. The commissioner of finance of the city who shall  be  entitled  to
  cast three votes.
    5. The president of the uniformed firemen's association of greater New
  York who shall be entitled to cast two votes.
    6.  The  vice-president  of  the  uniformed  firemen's  association of
  greater New York who shall be entitled to cast two votes.
    7. The treasurer of the uniformed firemen's association of greater New
  York who shall be entitled to cast two votes.
    8. The chairperson of the board of trustees of the uniformed firemen's
  association of greater New York who shall be entitled to cast two votes.
    9. Three elected members of the executive board of the uniformed  fire
  officers'  association of the fire department, city of New York, of whom
  one shall be an officer of the said department with rank above  that  of
  captain  and  shall  be  entitled  to  cast one vote; another shall be a
  captain of the said department and shall be entitled to cast  one  vote;
  another  shall  be  a  lieutenant  of  the  said department and shall be
  entitled to cast one and one-half votes.
    10. The  president  of  the  uniformed  pilots  and  marine  engineers
  association, fire department, city of New York, who shall be entitled to
  cast one-half vote.
    b.  Every  act  of  the board of trustees shall be by resolution which
  shall be adopted only by a vote of at least seven-twelfths of the  whole
  number  of  votes  authorized  to  be cast by all of the members of such
  board.
    c. The board of trustees shall receive all moneys applicable  to  such
  fund  and deposit the same to the credit of such fund, in banks or trust
  companies to be selected by it, and continue to receive and deposit  the
  funds  applicable  to the same, as received, to the credit of such fund,
  and shall have full power to invest the  same,  subject  to  the  terms,
  conditions,  limitations  and  restrictions  imposed by law upon savings
  banks in the making and disposing of investments by savings banks,  and,
  subject  to  like  terms, conditions, limitations and restrictions, such
  board of trustees shall have full power to hold, purchase, sell, assign,
  transfer or dispose of any of the securities or investments in which any
  of the funds provided for by this subchapter shall have been invested as
  well as of the proceeds of such investments and of any moneys  belonging
  to  such  fund,  and such board of trustees shall have the power to make
  all necessary contracts and  to  take  all  necessary  remedies  in  the
  premises.
    d.  The  fire  commissioner  shall  assign  to the board of trustees a
  sufficient number of clerical and other assistants to permit  the  board
  efficiently to exercise their powers and to perform their duties.
    e.  On or before the first day of September of each year, the board of
  trustees shall make a detailed verified report to the mayor.
    f. Any member of the board referred to in paragraphs five, six, seven,
  eight and ten, respectively, of subdivision a of this section, shall  be


  members  of the uniformed force and may authorize in writing at any time
  any other officer of the respective associations to represent him or her
  on such board in  the  event  of  his  or  her  absence  or  disability,
  provided,  however,  that the by-laws or constitution of such respective
  associations provide for the designation of  a  representative  in  such
  event.
    g. Notwithstanding any other provision of law to the contrary, on July
  first,  nineteen hundred ninety-five, the duties and responsibilities of
  the board of trustees of administering the provisions of this subchapter
  shall be transferred in accordance with the provisions of subdivision  f
  of  section  13-312.1 of this subchapter to the board of trustees of the
  fire department pension fund provided for  in  subchapter  two  of  this
  chapter.