Ranzenhofer to convene series of public hearings

 

     

    Examining proposed changes to New York’s Not-For-Profit Law

    Senate Standing Committee on Corporations, Authorities and Commissions Chairman Michael H. Ranzenhofer  (R-C-I, Amherst) will begin to convene a series of public hearings this week to examine the re-codification of New York State’s not-for-profit corporation law, in an effort to reduce unnecessary burdens on nonprofits and to enhance nonprofit governance and oversight.

     

    Wednesday, May 22, 2013 

    Hearing Room B

    Legislative Office Bldg.; Albany, NY  12247

    10 a.m. – Noon

     

    Friday, May 24, 2013

    Senate Hearing Room

    250 Broadway; New York, NY  10007

    10 a.m. – Noon

     

    Tuesday, May 28, 2013

    Monroe County Office Bldg.

    39 West Main St.; Rochester, NY  14614

    10 a.m. – Noon

    “Not-for-profit entities play a vital role in the economy of our State, providing thousands of jobs and important services on a daily basis,” said Ranzenhofer.  “Our not-for-profit laws have not been updated in over 40 years, and it shows.  It is critical to update those laws governing charities to better enable them to reduce costs and increase efficiency.  As charitable organizations are often funded by donations, it is also important to examine and improve the oversight of their operations.”

    Senator Ranzenhofer is sponsoring two bills, S.3755-A and S.5198, which undertake a comprehensive revision of the Not-For-Profit Law.

    Additional information is available at http://www.nysenate.gov/committee/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.

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