(a) Notwithstanding any other law, the Judicial Council of the Virgin Islands (the “Judicial Council”) is authorized to establish a separate operating bank account to be known as the “Judicial Council Imprest Account”. The account shall consist of all eligible federal funds, all donations, gifts and bequests, and other revenues designated to the Imprest Account. The Judicial Council and the Chief Justice of the Supreme Court shall provide for the administration of the account and shall promulgate rules and regulations governing the expenditure of funds consistent with the provisions of this section.
(b) All monies received by the Judicial Council shall be deposited into the Imprest Account, provided however, that of the $500.00 annual licensing fee required to be paid by each practicing attorney pursuant to title 27, section 302, of this Code, the sum of $200.00 shall be made payable to the Judicial Council for deposit into the Imprest Fund. The remaining $300.00 of the licensing fee shall be covered into the General Fund of the Treasury of the Government of the Virgin Islands.
(c) Payments shall be made from the Judicial Council Imprest Account only for the purchase of books, periodicals, other necessary expenses of the law libraries maintained by the Supreme and Superior Courts, and for the expenses of the Virgin Islands Bar Association's Committee on Ethics and Grievances, and its Legal Education and Admission to the Bar Committee, associated with the investigation, discipline and education of attorneys admitted to practice before the courts of the Territory, all upon vouchers approved by the Chief Justice of the Supreme Court and/or the Judicial Council of the Virgin Islands.