S T A T E O F N E W Y O R K
I N S E N A T E
May 2, 2012
Introduced by Sen. LAVALLE -- read twice and ordered printed, and when
printed to be committed to the Committee on Corporations, Authorities
and Commissions -- committee discharged, bill amended, ordered
reprinted as amended and recommitted to said committee
AN ACT to amend the business corporation law, in relation to design
professional service corporations
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 1503 of the business corporation law is amended by
adding a new paragraph (b-5) to read as follows:
(B-5) ON OR AFTER JANUARY FIRST, TWO THOUSAND TWELVE, THE STATE EDUCA-
TION DEPARTMENT AND THE DEPARTMENT OF STATE SHALL ALLOW AN EXISTING
PROFESSIONAL SERVICE CORPORATION IN GOOD STANDING TO CONVERT TO A DESIGN
PROFESSIONAL SERVICE CORPORATION AS DEFINED IN THIS ARTICLE, PROVIDED
THE DESIGN PROFESSIONAL SERVICE CORPORATION MEETS ALL OF THE REQUIRE-
MENTS TO BECOME A DESIGN PROFESSIONAL SERVICE CORPORATION, INCLUDING
THAT ITS NAME SHALL END WITH THE WORDS "DESIGN PROFESSIONAL CORPORATION"
OR THE ABBREVIATION "D.P.C.".
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.