Senate Bill S5370

2011-2012 Legislative Session

Relates to the regulation of cemetery trust funds and finances by the cemetery board

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


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

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2011-S5370 (ACTIVE) - Details

See Assembly Version of this Bill:
A7418
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd ยงยง1506 & 1507, N-PC L

2011-S5370 (ACTIVE) - Summary

Relates to the regulation of cemetery trust funds and finances by the cemetery board.

2011-S5370 (ACTIVE) - Sponsor Memo

2011-S5370 (ACTIVE) - Bill Text download pdf

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

                                  5370

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              May 13, 2011
                               ___________

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

AN ACT to amend the not-for-profit corporation law, in relation to regu-
  lation of cemetery trust funds and finances by the cemetery board

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

  Section  1. Paragraphs (a) and (i) of section 1506 of the not-for-pro-
fit corporation law, paragraph (a) as added by chapter 871 of  the  laws
of 1977 and paragraph (i) as amended by chapter 292 of the laws of 1999,
are amended to read as follows:
  (a)   Purchase of land; notice to CEMETERY board [and court approval].
No cemetery corporation, in purchasing real  property  hereafter,  shall
pay or agree to pay more than the fair and reasonable market value ther-
eof.   The terms of the purchase, including the price to be paid and the
method of payment,  shall  be  subject[,  upon  notice]  to  NOTICE  AND
APPROVAL  OF  the cemetery board[, to approval by the supreme court in a
district where any portion of the land is located].  In determining  the
fair  and  reasonable  market value, the [court] CEMETERY BOARD may take
into consideration the method by which the purchase price is to be paid.
  (i) Sale or disposition of cemetery lands. (1) No cemetery corporation
may sell or dispose of the fee of all or any part of its lands dedicated
to cemetery use, unless it  shall  prove  to  the  satisfaction  of  the
[supreme  court  in the district where any portion of the cemetery lands
is located] CEMETERY BOARD,  either:  (A)  that  all  bodies  have  been
removed  from  each and every part of the cemetery, that all the lots in
the entire cemetery have been reconveyed to the corporation and are  not
used  for  burial purposes, and that it has no debts and liabilities, or
(B) that the land to be sold or disposed of is not used or is not  phys-
ically  adaptable  for  burial purposes and that the sale or disposition
will benefit the cemetery corporation and the owners of plots and graves

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11001-01-1
              

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