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Rule 14-207. Finances.

(a) Budget. The Board must prepare anannual budget that is published for comment before final adoption. The Boardmust adopt the budget at its first regular meeting following the reorganizationmeeting. No obligations may be incurred unless within the limits of the budgetand within the scope of the authorized objectives of the Board. The Bar?sannual budget must include a budget for the OPC, including the salaries of OPCcounsel and staff, expenses, and administrative costs. The Board must ratifythe budget for the OPC approved by the Oversight Committee unless the Boardpetitions the Supreme Court for modifications, in which case the budgetapproved by the Supreme Court is final.

(b) Section dues.

(1) Bar sections may, with Boardapproval, charge an annual membership fee to obtain the commitment of membersto section activities and to provide revenue to carry out the section?spurposes. The amount of such membership fees will be fixed by the sectionsubject to the approval of the Board.

(2) The Bar must hold any funds raisedby sections from membership fees as separately identifiable funds of thesections, and disburse to the sections as needed, to carry out the functions ofthe sections. Such funds may not revert to the general Bar fund at the end ofthe budget year, but will continue to be held as a separately identifiablefund.

(c) Disbursements.

(1) Bar funds are disbursed only inaccordance with the provisions of law and by these Bylaws, and at the directionof the Board.

(2) Checking accounts must bemaintained with banks to be designated by the Board in such amounts as theBoard will determine.

(3) No check may be drawn on Bar fundsexcept as the Board authorizes.

(4) Checks under $1,000 may be signedby an Executive Committee member or by the executive director. Checks over$1,000 must bear the signatures of any two Executive Committee members or anyone Executive Committee member and the executive director, unless the fundscome from the revolving-fund account for day-to-day operating needs, in whichcase a check of any amount may be signed by an Executive Committee member or bythe executive director. The Board designates the size of the revolving-fundaccount annually and may revise this at any time.

(d) Investingfunds. The Board must direct any investment of Bar funds.

EffectiveDecember 15, 2020