Navigation Foundation adopts plan to conform to new IOTA rule
A detailed response on how to follow new IOTA rules set by the Supreme Court has been approved by The Florida Bar Foundation’s Board of Directors. It calls for, among other things, reexamining the Foundation’s role, its name, and segregating IOTA operations from other Foundation accounts and activities.
The board, at a November 8 meeting, ratified the plan hammered out by its executive committee in a series of meetings since last summer to follow new IOTA rules that were effective July 1. Those amendments to Bar Rule 5-l.1(g) were based on the recommendations from the Task Force on the Distribution of IOTA Funds.
“It’s a main frame, a working outline, a prototype of sorts…that sets a path, answers some major issues that we thought needed to be addressed in the short run with the understanding we will refine this as we go forward,” Foundation Executive Director Donny MacKenzie told the board.
