assembly Bill A4692A

Signed By Governor
2011-2012 Legislative Session

Authorizes the incorporation of benefit corporations

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S79 -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

do you support this legislation?

You must fill out the form below in order to support or oppose this bill. X

You must login or fill out the fields below for the senator to have an accurate account of the support or opposition to this bill.

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.
Use this box to enter a message to your senator.

Actions

view actions (15)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Dec 12, 2011 approval memo.16
signed chap.599
Nov 30, 2011 delivered to governor
Jun 17, 2011 returned to senate
passed assembly
ordered to third reading rules cal.395
substituted for a4692a
Jun 17, 2011 substituted by s79a
rules report cal.395
reported
Jun 16, 2011 reported referred to rules
Jun 14, 2011 reported referred to codes
Jun 10, 2011 print number 4692a
amend and recommit to corporations, authorities and commissions
Feb 04, 2011 referred to corporations, authorities and commissions

Votes

view votes

Jun 6, 2011 - Corporations, Authorities and Commissions committee Vote

S79A
6
0
committee
6
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: Jun 6, 2011

Jun 1, 2011 - Judiciary committee Vote

S79A
20
0
committee
20
Aye
0
Nay
2
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show committee vote details

Co-Sponsors

view additional co-sponsors

A4692 - Details

See Senate Version of this Bill:
S79A
Law Section:
General Construction Law
Laws Affected:
Amd §§65 & 66, Gen Con L; add Art 17 §§1701 - 1709, BC L
Versions Introduced in 2009-2010 Legislative Session:
A11498B, S7855B

A4692 - 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.

A4692 - Bill Text download pdf

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

                                  4692

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 4, 2011
                               ___________

Introduced  by  M.  of  A.  SILVER, BRENNAN, KAVANAGH, ROSENTHAL, GALEF,
  LIFTON, NOLAN, CORWIN -- read once and referred to  the  Committee  on
  Corporations, Authorities and Commissions

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
SECTION 1701. APPLICATION AND EFFECT OF ARTICLE.
        1702. DEFINITIONS.
        1703. FORMATION OF BENEFIT CORPORATIONS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01470-01-1

Co-Sponsors

view additional co-sponsors

Multi-Sponsors

view additional multi-sponsors

A4692A (ACTIVE) - Details

See Senate Version of this Bill:
S79A
Law Section:
General Construction Law
Laws Affected:
Amd §§65 & 66, Gen Con L; add Art 17 §§1701 - 1709, BC L
Versions Introduced in 2009-2010 Legislative Session:
A11498B, S7855B

A4692A (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.

A4692A (ACTIVE) - Bill Text download pdf

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

                                 4692--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 4, 2011
                               ___________

Introduced  by  M.  of  A.  SILVER, BRENNAN, KAVANAGH, ROSENTHAL, GALEF,
  LIFTON, NOLAN, CORWIN -- read once and referred 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 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 INCORPORATED
UNDER ARTICLE SEVENTEEN OF THE BUSINESS CORPORATION LAW AND WHOSE STATUS
AS A BENEFIT CORPORATION HAS NOT BEEN TERMINATED 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
SECTION 1701. APPLICATION AND EFFECT OF ARTICLE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01470-03-1

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.