Rule 14-207. Finances.
(a) Annual licensing fees. Theannual licensing fees to be paid each year by all members of the Bar shall befixed by the Board with prior Supreme Court approval.
(b) Budget. The Board shallprepare a budget which shall be published for comment prior to final adoption.The Board shall adopt the budget at its first regular meeting following thereorganization meeting. No obligations shall be incurred unless within thelimits of the budget and within the scope of the authorized objectives of theBoard.
(c) Section dues.
(c)(1) Sections of the Bar may,with the approval of the Board, charge an annual membership fee in order toobtain the commitment of members to section activities and to provide revenueto carry out the purposes of the section. The amount of such membership feesshall be fixed by the section subject to the approval of the Board.
(c)(2) Funds raised by sectionsfrom membership fees shall be held by the Bar as separately identifiable fundsof the sections, and disbursed to the sections as needed, to carry out thefunctions of the sections. Such funds shall not revert to the general Bar fundat the end of the budget year, but shall continue to be held as a separatelyidentifiable fund.
(d)(1) Funds of the Bar shallbe disbursed only in accordance with the provisions of law and by these Bylaws,and at the direction of the Board.
(d)(2) Checking accounts shallbe maintained with banks to be designated by the Board in such amounts as theBoard shall determine.
(d)(3) No check shall be drawnon the funds of the Bar except as authorized by the Board.
(d)(4) Checks under the amountof $1,000 can be signed by any one of the members of the Executive Committee orby the executive director. Checks over the amount of $1,000 shall bear thesignatures of any two members of the Executive Committee or any one member ofthe Executive Committee and the executive director, except that there shall bea revolving-fund account for day-to-day operating needs, which can be signed byany one of the members of the Executive Committee or by the executive director.The size of the revolving-fund account shall be designated annually by theBoard and can be revised at any time by Board action.
(e) Investment of funds. Fundsof the Bar shall be invested at the direction of the Board.