The rollout of the New York Nonprofit Revitalization Act of 2013 (the “Revitalization Act”), effective July 1, 2014, is causing challenges for many New York charities as the compliance date approaches. For more information on the challenges resulting from the rollout of the Revitalization Act, click here. For more coverage on the Revitalization Act, click here.
Under the Not-for-Profit Corporation Law (“NPCL”) it is relatively clear that (i) any committee with corporate authority must be comprised only of trustees, and (ii) committees must be appointed by the board, and not, for example, by the chair (other than special committees). (The foregoing may not apply if otherwise provided by the certificate of… Continue Reading
The New York Non-Profit Revitalization Act of 2013 (the “Act”), which was passed by the New York State legislature in June, was signed into law by Governor Andrew Cuomo last week. The Act seeks to modernize the New York Not-For-Profit Corporation Law (the “NPCL”), and is the first major overhaul of the NPCL in four decades…. Continue Reading
Proskauer’s 18th Annual Trick or Treat Seminar was held on Thursday, October 31. The Seminar discussed: Statutory Authority of New York Attorney General’s Charities Bureau Proposed Revisions to New York’s’ Not-for-Profit Corporation Law Impact of United States v. Windsor on Health Insurance and Retirement Plans and Key Provisions of the Affordable Care Act In her… Continue Reading