senate Bill S4783A

2013-2014 Legislative Session

Relates to compensation of executives of certain not-for-profit corporations

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Archive: Last Bill Status - In Committee


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

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Actions

view actions (12)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 20, 2014 committed to rules
May 19, 2014 advanced to third reading
May 14, 2014 2nd report cal.
May 13, 2014 1st report cal.675
Apr 28, 2014 print number 4783a
amend and recommit to investigations and government operations
Jan 08, 2014 referred to investigations and government operations
Jun 21, 2013 committed to rules
May 23, 2013 advanced to third reading
May 22, 2013 2nd report cal.
May 21, 2013 1st report cal.668
Apr 23, 2013 referred to investigations and government operations

Votes

view votes

May 13, 2014 - Investigations and Government Operations committee Vote

S4783A
8
0
committee
8
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: May 13, 2014

aye wr (1)

May 21, 2013 - Investigations and Government Operations committee Vote

S4783
6
0
committee
6
Aye
0
Nay
3
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: May 21, 2013

Bill Amendments

Original
A (Active)
Original
A (Active)

Co-Sponsors

S4783 - Details

See Assembly Version of this Bill:
A2120A
Current Committee:
Law Section:
Executive Law
Laws Affected:
Amd §63, Exec L; amd §§202, 717, 719 & 720, add §§727 & 728, N-PC L
Versions Introduced in 2011-2012 Legislative Session:
S6930, A10733

S4783 - Summary

Relates to compensation of executives of certain not-for-profit corporations.

S4783 - Sponsor Memo

S4783 - Bill Text download pdf

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

                                  4783

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             April 23, 2013
                               ___________

Introduced  by  Sens.  MARCELLINO, RANZENHOFER -- read twice and ordered
  printed, and when printed to be committed to the Committee on Investi-
  gations and Government Operations

AN ACT to amend the executive law  and  the  not-for-profit  corporation
  law, in relation to compensation of executives of certain not-for-pro-
  fit corporations

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

  Section 1. Section 63 of the executive law is amended by adding a  new
subdivision 14 to read as follows:
  14.  PROSECUTE  ALL  ACTIONS  IN CONNECTION WITH SECTION SEVEN HUNDRED
TWENTY-SEVEN AND SEVEN HUNDRED TWENTY-EIGHT OF THE NOT-FOR-PROFIT CORPO-
RATION LAW.
  S 2. Subparagraph 12 of paragraph (a) of section 202 of  the  not-for-
profit corporation law is amended to read as follows:
  (12)  To  elect or appoint officers, employees and other agents of the
corporation, define their duties, fix their reasonable compensation  and
the  reasonable  compensation  of  directors, and to indemnify corporate
personnel.  Such  compensation  shall  be  commensurate  with   services
performed, AND SUBJECT, WHERE APPLICABLE, TO SECTION SEVEN HUNDRED TWEN-
TY-SEVEN (COMPENSATION OF EXECUTIVES).
  S  3.  Paragraph  (a) of section 717 of the not-for-profit corporation
law, as amended by chapter 490 of the laws of 2010, is amended  to  read
as follows:
  (a) Directors and officers shall discharge the duties of their respec-
tive  positions  in  good  faith and with the care an ordinarily prudent
person in a like position would exercise  under  similar  circumstances.
The  factors  set  forth in subparagraph one of paragraph (e) of section
552 (Standard of conduct in  managing  and  investing  an  institutional
fund),  if  relevant, must be considered by a governing board delegating
investment management of institutional funds  pursuant  to  section  514

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05075-01-3

Co-Sponsors

S4783A (ACTIVE) - Details

See Assembly Version of this Bill:
A2120A
Current Committee:
Law Section:
Executive Law
Laws Affected:
Amd §63, Exec L; amd §§202, 717, 719 & 720, add §§727 & 728, N-PC L
Versions Introduced in 2011-2012 Legislative Session:
S6930, A10733

S4783A (ACTIVE) - Summary

Relates to compensation of executives of certain not-for-profit corporations.

S4783A (ACTIVE) - Sponsor Memo

S4783A (ACTIVE) - Bill Text download pdf

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

                                 4783--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             April 23, 2013
                               ___________

Introduced  by  Sens.  MARCELLINO, RANZENHOFER -- read twice and ordered
  printed, and when printed to be committed to the Committee on Investi-
  gations and Government Operations -- recommitted to the  Committee  on
  Investigations  and  Government  Operations  in accordance with Senate
  Rule  6,  sec.  8  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to said committee

AN  ACT  to  amend  the executive law and the not-for-profit corporation
  law, in relation to compensation of executives of certain not-for-pro-
  fit corporations

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

  Section  1. Section 63 of the executive law is amended by adding a new
subdivision 14 to read as follows:
  14. PROSECUTE ALL ACTIONS IN CONNECTION  WITH  SECTION  SEVEN  HUNDRED
TWENTY-SEVEN AND SEVEN HUNDRED TWENTY-EIGHT OF THE NOT-FOR-PROFIT CORPO-
RATION LAW.
  S  2.  Subparagraph 12 of paragraph (a) of section 202 of the not-for-
profit corporation law is amended to read as follows:
  (12) To elect or appoint officers, employees and other agents  of  the
corporation,  define their duties, fix their reasonable compensation and
the reasonable compensation of directors,  and  to  indemnify  corporate
personnel.   Such  compensation  shall  be  commensurate  with  services
performed, AND SUBJECT, WHERE APPLICABLE, TO SECTION SEVEN HUNDRED TWEN-
TY-SEVEN (COMPENSATION OF EXECUTIVES).
  S 3. Paragraph (a) of section 717 of  the  not-for-profit  corporation
law,  as  amended by chapter 490 of the laws of 2010, is amended to read
as follows:
  (a) Directors and officers shall discharge the duties of their respec-
tive positions in good faith and with the  care  an  ordinarily  prudent
person  in  a  like position would exercise under similar circumstances.
The factors set forth in subparagraph one of paragraph  (e)  of  section

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05075-04-4

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