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Senate Bill S7040

2009-2010 Legislative Session

Relates to the compensation of not-for-profit corporation directors, officers, or administrators

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Sponsored By

Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee

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2009-S7040 (ACTIVE) - Details

See Assembly Version of this Bill:
A10006
Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Add ยง727, N-PC L
Versions Introduced in 2011-2012 Legislative Session:
A3076

2009-S7040 (ACTIVE) - Summary

Provides that not-for-profit corporations shall not be eligible for funding from the state when the officers, directors, or administrators receive a greater salary than the governor receives.

2009-S7040 (ACTIVE) - Sponsor Memo

2009-S7040 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7040

                            I N  S E N A T E

                              March 9, 2010
                               ___________

Introduced  by  Sen. PADAVAN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Corporations,  Authorities
  and Commissions

AN  ACT  to  amend  the  not-for-profit  corporation law, in relation to
  compensation of not-for-profit  corporation  directors,  officers,  or
  administrators

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The not-for-profit corporation law is amended by  adding  a
new section 727 to read as follows:
S 727. COMPENSATION OF DIRECTORS, OFFICERS, OR ADMINISTRATORS.
  A NOT-FOR-PROFIT CORPORATION SHALL NOT RECEIVE FUNDING FROM ANY SOURCE
FROM NEW YORK STATE WHEN ANY DIRECTOR, OFFICER, OR ADMINISTRATOR OF SUCH
NOT-FOR-PROFIT  CORPORATION  RECEIVES A GREATER SALARY THAN THE GOVERNOR
RECEIVES.
  S 2. This act shall take effect immediately.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15749-01-0

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