A further amendment to the Non-Profit Revitalization Act of 2013 has been adopted by the NY State legislature and the legislation is expected to be signed by the governor. See the Lawyers Alliance for New York memo of June 22, 2016. Among other things, “independent director” will now be defined on a sliding scale: a director cannot be… Read more »
Posts Categorized: Not-for-Profit
This link is attached to a relatively recent copy of the New York Not-for-Profit Corporation Law: http://codes.findlaw.com/ny/notforprofit-corporation-law/. Care should be taken, however, to ensure that all of the newest, up-to-date amendments are also reviewed. There were changes adopted in December 2015 yet that may not be reflected at this link.