Ranzenhofer holds hearing on changes to not-for-profit law
Rochester, N.Y. - State Senator Mike Ranzenhofer convenes a public hearing to examine comprehensive amendments to New York State's Not-For-Profit Corporation Law at the Monroe County Office Building.
Among key stakeholders offering testimony were: Rochester Area Community Foundation President & CEO, Jennifer Leonard; United Way of Greater Rochester President, Peter Carpino; Lifespan President & CEO, Ann Marie Cook; and NYS Office of the Attorney General, Jason Lilien.
Senator Ranzenhofer is Chairman of the Senate Standing Committee on Corporations, Authorities and Commissions.
About the Not-for-Profit Law
The Not-For-Profit law was enacted by Chapter 1066 of the Laws of 1969. Although there have been piecemeal amendments of the Law in the last forty plus years, there has not been a comprehensive review and update made.
The Not-for-Profit Law covers a diverse array of entities, including membership corporations, cemetery corporations, fire corporations, religious societies, medical societies, alumni corporations, historical societies, agricultural societies, trade organizations, as well as charitable organizations, hospitals and not-for-profit nursing homes. Many of these entities are also regulated by other state departments, including the Department of Health, the Office of the Attorney General and the Education Department.