Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Jun 28, 2010 | referred to corporations, authorities and commissions returned to assembly repassed senate |
Jun 25, 2010 | amended on third reading (t) 7855b |
Jun 22, 2010 | amended on third reading (t) 7855a |
Jun 22, 2010 | vote reconsidered - restored to third reading returned to senate recalled from assembly |
Jun 16, 2010 | referred to corporations, authorities and commissions delivered to assembly passed senate ordered to third reading cal.986 |
Jun 15, 2010 | committee discharged and committed to rules |
May 17, 2010 | referred to corporations, authorities and commissions |
senate Bill S7855B
Sponsored By
Daniel L. Squadron
(D, WF) 0 Senate District
Archive: Last Bill Status - Passed Senate
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
Your Voice
Actions
Votes
Bill Amendments
Co-Sponsors
Neil D. Breslin
(D, IP, WF) 44th Senate District
William J. Larkin, Jr.
(R, C) 0 Senate District
George Onorato
(D) 0 Senate District
Suzi Oppenheimer
(D, WF) 0 Senate District
S7855 - Details
S7855 - Summary
Authorizes the incorporation of benefit corporations and provides for the public benefit to be created by benefit corporations, for the election and termination of the status of a benefit corporation, for the standards of conduct for directors and officers of a benefit corporation, and for the preparation and distribution of an annual benefit report by a benefit corporation.
S7855 - Sponsor Memo
BILL NUMBER: S7855 TITLE OF BILL : An act to amend the business corporation law, in relation to authorizing the incorporation of benefit corporations, providing for the public benefit to be created by benefit corporations, for the election and termination of the status of a benefit corporation, for the standards of conduct for directors and officers of a benefit corporation, for a right of action to enforce the duties of directors and officers of a benefit corporation, and for the preparation and distribution of an annual benefit report by a benefit corporation PURPOSE OR GENERAL IDEA OF BILL : This bill authorizes a New York corporation to elect to be a benefit corporation provided that the benefit Corporation's purpose is to create a general public benefit. SUMMARY OF PROVISIONS : Section 1 of the bill amends the New York Corporation Law by adding a new Article 17 entitled "Benefit Corporations." Within Article 17, section 1701 establishes the application of the article only to benefit corporations and states that benefit corporations may simultaneously be subject both to Article 17 and other articles of this chapter.
S7855 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7855 I N S E N A T E May 17, 2010 ___________ Introduced by Sens. SQUADRON, BRESLIN, SERRANO -- read twice and ordered printed, and when printed to be committed to the Committee on Corpo- rations, Authorities and Commissions AN ACT to amend the business corporation law, in relation to authorizing the incorporation of benefit corporations, providing for the public benefit to be created by benefit corporations, for the election and termination of the status of a benefit corporation, for the standards of conduct for directors and officers of a benefit corporation, for a right of action to enforce the duties of directors and officers of a benefit corporation, and for the preparation and distribution of an annual benefit report by a benefit corporation THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The business corporation law is amended by adding a new article 17 to read as follows: ARTICLE 17 BENEFIT CORPORATIONS SECTION 1701. APPLICATION AND EFFECT OF ARTICLE. 1702. DEFINITIONS. 1703. FORMATION OF BENEFIT CORPORATIONS. 1704. ELECTION OF AN EXISTING BUSINESS CORPORATION TO BECOME A BENEFIT CORPORATION. 1705. TERMINATION OF BENEFIT CORPORATION STATUS. 1706. CORPORATE PURPOSES. 1707. STANDARD OF CONDUCT FOR DIRECTORS. 1708. BENEFIT DIRECTOR. 1709. STANDARD OF CONDUCT FOR OFFICERS. 1710. BENEFIT OFFICER. 1711. RIGHT OF ACTION. 1712. ANNUAL BENEFIT REPORT. S 1701. APPLICATION AND EFFECT OF ARTICLE. (A) THIS ARTICLE SHALL BE APPLICABLE TO ALL BENEFIT CORPORATIONS. (B) THE EXISTENCE OF A PROVISION OF THIS ARTICLE SHALL NOT OF ITSELF CREATE ANY IMPLICATION THAT A CONTRARY OR DIFFERENT RULE OF LAW IS OR EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Co-Sponsors
Neil D. Breslin
(D, IP, WF) 44th Senate District
William J. Larkin, Jr.
(R, C) 0 Senate District
George Onorato
(D) 0 Senate District
Suzi Oppenheimer
(D, WF) 0 Senate District
S7855A - Details
S7855A - Summary
Authorizes the incorporation of benefit corporations and provides for the public benefit to be created by benefit corporations, for the election and termination of the status of a benefit corporation, for the standards of conduct for directors and officers of a benefit corporation, and for the preparation and distribution of an annual benefit report by a benefit corporation.
S7855A - Sponsor Memo
BILL NUMBER:S7855A TITLE OF BILL: An act to amend the general construction law and the business corporation law, in relation to authorizing the incorporation of benefit corporations, providing for the public benefit to be created by benefit corporations, for the election and termination of the status of a benefit corporation, for the standards of conduct for directors of a benefit corporation, for a right of action to enforce the duties of directors and public benefit purposes of a benefit corporation, and for the preparation and distribution of an annual benefit report by a benefit corporation PURPOSE OR GENERAL IDEA OF BILL: This bill authorizes a New York corporation to elect to be a benefit corporation provided that the benefit Corporation's purpose is to create a general public benefit.
S7855A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7855--A Cal. No. 986 I N S E N A T E May 17, 2010 ___________ Introduced by Sens. SQUADRON, BRESLIN, LARKIN, ONORATO, OPPENHEIMER, PARKER, SERRANO -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commis- sions -- committee discharged and said bill committed to the Committee on Rules -- ordered to a third reading, passed by Senate and delivered to the Assembly, recalled, vote reconsidered, restored to third read- ing, amended and ordered reprinted, retaining its place in the order of third reading AN ACT to amend the general construction law and the business corpo- ration law, in relation to authorizing the incorporation of benefit corporations, providing for the public benefit to be created by bene- fit corporations, for the election and termination of the status of a benefit corporation, for the standards of conduct for directors of a benefit corporation, for a right of action to enforce the duties of directors and public benefit purposes of a benefit corporation, and for the preparation and distribution of an annual benefit report by a benefit corporation THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraphs 3 and 4 of subdivision d of section 65 of the general construction law, as added by chapter 451 of the laws of 1973 are amended and a new paragraph 5 is added to read as follows: 3. A railroad corporation, [or] 4. A transportation corporation[.], OR 5. A BENEFIT CORPORATION. S 2. Section 66 of the general construction law is amended by adding a new subdivision 4-a to read as follows: 4-A. A "BENEFIT CORPORATION" MEANS A BUSINESS CORPORATION THAT HAS ELECTED TO BECOME SUBJECT TO ARTICLE SEVENTEEN OF THE BUSINESS CORPO- RATION LAW AND WHOSE STATUS AS A FOR PROFIT BENEFIT CORPORATION HAS NOT BEEN TERMINATED AS PROVIDED IN ARTICLE SEVENTEEN OF THE BUSINESS CORPO- RATION LAW. S 3. The business corporation law is amended by adding a new article 17 to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
Co-Sponsors
Neil D. Breslin
(D, IP, WF) 44th Senate District
William J. Larkin, Jr.
(R, C) 0 Senate District
George Onorato
(D) 0 Senate District
Suzi Oppenheimer
(D, WF) 0 Senate District
S7855B (ACTIVE) - Details
S7855B (ACTIVE) - Summary
Authorizes the incorporation of benefit corporations and provides for the public benefit to be created by benefit corporations, for the election and termination of the status of a benefit corporation, for the standards of conduct for directors and officers of a benefit corporation, and for the preparation and distribution of an annual benefit report by a benefit corporation.
S7855B (ACTIVE) - Sponsor Memo
BILL NUMBER:S7855B TITLE OF BILL: An act to amend the general construction law and the business corporation law, in relation to authorizing the incorporation of benefit corporations, providing for the public benefit to be created by benefit corporations, for the election and termination of the status of a benefit corporation, for the standards of conduct for directors of a benefit corporation, and for the preparation and distribution of an annual benefit report by a benefit corporation PURPOSE OR GENERAL IDEA OF BILL: This bill authorizes a New York corporation to elect to be a benefit corporation and thus to have as one of its purposes the creation of general public benefit. SUMMARY OF PROVISIONS: Section 1 of the bill makes conforming changes to the general construction law.
S7855B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7855--B Cal. No. 986 I N S E N A T E May 17, 2010 ___________ Introduced by Sens. SQUADRON, BRESLIN, LARKIN, ONORATO, OPPENHEIMER, PARKER, SERRANO -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commis- sions -- committee discharged and said bill committed to the Committee on Rules -- ordered to a third reading, passed by Senate and delivered to the Assembly, recalled, vote reconsidered, restored to third read- ing, amended and ordered reprinted, retaining its place in the order of third reading -- again amended and ordered reprinted, retaining its place in the order of third reading AN ACT to amend the general construction law and the business corpo- ration law, in relation to authorizing the incorporation of benefit corporations, providing for the public benefit to be created by bene- fit corporations, for the election and termination of the status of a benefit corporation, for the standards of conduct for directors of a benefit corporation, and for the preparation and distribution of an annual benefit report by a benefit corporation THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraphs 3 and 4 of subdivision d of section 65 of the general construction law, as added by chapter 451 of the laws of 1973 are amended and a new paragraph 5 is added to read as follows: 3. A railroad corporation, [or] 4. A transportation corporation[.], OR 5. A BENEFIT CORPORATION. S 2. Section 66 of the general construction law is amended by adding a new subdivision 4-a to read as follows: 4-A. A "BENEFIT CORPORATION" MEANS A BUSINESS CORPORATION THAT HAS ELECTED TO BECOME SUBJECT TO ARTICLE SEVENTEEN OF THE BUSINESS CORPO- RATION LAW AND WHOSE STATUS AS A BENEFIT CORPORATION HAS NOT BEEN TERMI- NATED AS PROVIDED IN ARTICLE SEVENTEEN OF THE BUSINESS CORPORATION LAW. S 3. The business corporation law is amended by adding a new article 17 to read as follows: ARTICLE 17 BENEFIT CORPORATIONS EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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