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It was blocked when a single trustee, Jeffrey Wiesenfeld, launched an attack on the playwright over his views on Israel.
Many artists create foundations to shepherd their legacies, but most foundations do not give control to a single trustee because they seek additional oversight.
Many of those accounts were for charitable organizations whose funds were handled by a single trustee with an account at the bank.
A firestorm was ignited last week when a single trustee, Jeffrey Wiesenfeld, launched an attack on the Jewish playwright on the grounds that he was not sufficiently pro-Israel.
The idea of a single trustee draws the disdain of many academics, governance experts and a few pension officials in other states, who argue that sole trusteeships are a risky anachronism.
"I can't think of a single trustee who has had a greater impact on improving higher education in the country," said Jerry L. Martin, president of the American Council of Trustees and Alumni in Washington, an advocacy group.
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Gazette [to Reischauer]: Harvard has two governing boards, the Corporation and the Board of Overseers, while most universities just have a single board of trustees.
In a single, swift stroke, the trustees will thus complete the revival of one president, honor the spirit of another and send a message that should be heard by leaders everywhere.
Moreover, the bequest to Trouble was so self-evidently excessive for a single, aging dog that the trustees decided to take steps to reduce it.
A single bank account opened by a trustee on behalf of others requires proof that the beneficiaries of the accounts own the money and are different from the trustee.
Trustee Lateefah Simon, a single mother of two children, said she empathized with the steady drumbeat of student chants that continued throughout the daylong meeting.
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