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Senate Bill S7378A

Signed By Governor

2011-2012 Legislative Session

Allows a professional service corporation, in good standing, to convert to a design professional service corporation if it meets all stated requirements

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Archive: Last Bill Status Via A10281 - Signed by Governor

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Bill Amendments

2011-S7378 - Details

See Assembly Version of this Bill:
A10281
Law Section:
Business Corporation Law
Laws Affected:
Amd §1503, BC L

2011-S7378 - Summary

Allows a professional service corporation, in good standing, to convert to a design professional service corporation if it meets all stated requirements to become a design professional service corporation.

2011-S7378 - Sponsor Memo

2011-S7378 - Bill Text download pdf 

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

                                  7378

                            I N  S E N A T E

                               May 2, 2012
                               ___________

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

AN  ACT  to  amend  the  business corporation law, in relation to design
  professional service corporations

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

  Section  1. Section 1503 of the business corporation law is amended by
adding a new paragraph (b-5) to read as follows:
  (B-5) NOTWITHSTANDING ANY  PROVISION  OF  LAW  TO  THE  CONTRARY,  THE
DEPARTMENT  OF EDUCATION SHALL HAVE THE AUTHORITY TO APPROVE THE CONVER-
SION OF A PROFESSIONAL SERVICE CORPORATION IN  EXISTENCE  PRIOR  TO  THE
EFFECTIVE DATE OF THIS PARAGRAPH TO A DESIGN PROFESSIONAL SERVICE CORPO-
RATION  UNDER  THIS  ARTICLE BY REQUIRING SUCH DOCUMENTS AS NECESSARY TO
ESTABLISH THAT THE REQUIREMENTS OF CHAPTER FIVE  HUNDRED  FIFTY  OF  THE
LAWS OF TWO THOUSAND ELEVEN HAVE BEEN MET.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15709-01-2

2011-S7378A (ACTIVE) - Details

See Assembly Version of this Bill:
A10281
Law Section:
Business Corporation Law
Laws Affected:
Amd §1503, BC L

2011-S7378A (ACTIVE) - Summary

Allows a professional service corporation, in good standing, to convert to a design professional service corporation if it meets all stated requirements to become a design professional service corporation.

2011-S7378A (ACTIVE) - Sponsor Memo

2011-S7378A (ACTIVE) - Bill Text download pdf 

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

                                 7378--A

                            I N  S E N A T E

                               May 2, 2012
                               ___________

Introduced  by  Sen. LAVALLE -- read twice and ordered printed, and when
  printed to be committed 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 business corporation  law,  in  relation  to  design
  professional service corporations

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

  Section 1. Section 1503 of the business corporation law is amended  by
adding a new paragraph (b-5) to read as follows:
  (B-5) ON OR AFTER JANUARY FIRST, TWO THOUSAND TWELVE, THE STATE EDUCA-
TION  DEPARTMENT  AND  THE  DEPARTMENT  OF STATE SHALL ALLOW AN EXISTING
PROFESSIONAL SERVICE CORPORATION IN GOOD STANDING TO CONVERT TO A DESIGN
PROFESSIONAL SERVICE CORPORATION AS DEFINED IN  THIS  ARTICLE,  PROVIDED
THE  DESIGN  PROFESSIONAL  SERVICE CORPORATION MEETS ALL OF THE REQUIRE-
MENTS TO BECOME A DESIGN  PROFESSIONAL  SERVICE  CORPORATION,  INCLUDING
THAT ITS NAME SHALL END WITH THE WORDS "DESIGN PROFESSIONAL CORPORATION"
OR THE ABBREVIATION "D.P.C.".
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15709-02-2

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