assembly Bill A10365B

Signed By Governor
2015-2016 Legislative Session

Relates to the reform of charitable corporations and trust governance; repealer

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Archive: Last Bill Status -


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

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Actions

view actions (18)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Nov 28, 2016 signed chap.466
Nov 16, 2016 delivered to governor
Jun 16, 2016 returned to assembly
passed senate
3rd reading cal.1331
substituted for s7913b
Jun 15, 2016 referred to rules
delivered to senate
passed assembly
Jun 14, 2016 ordered to third reading rules cal.248
rules report cal.248
reported
Jun 07, 2016 amend and recommit to rules 10365b
Jun 06, 2016 reported referred to rules
Jun 02, 2016 print number 10365a
amend and recommit to codes
Jun 01, 2016 reported referred to codes
May 24, 2016 referred to corporations, authorities and commissions

A10365 - Details

See Senate Version of this Bill:
S7913B
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §§102, 114, 309, 712, 713, 715, 715-a, 715-b & 720, rpld §712-a ¶(c), N-PC L; amd §8-1.9, rpld ¶(b) sub¶ 3, EPT L

A10365 - Summary

Relates to the reform of charitable corporations and trust governance.

A10365 - Bill Text download pdf

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

                                  10365

                          I N  A S S E M B L Y

                              May 24, 2016
                               ___________

Introduced  by M. of A. BRENNAN -- read once and referred to the Commit-
  tee on Corporations, Authorities and Commissions

AN ACT to amend the not-for-profit  corporation  law  and  the  estates,
  powers and trusts law, in relation to reformation of charitable corpo-
  rations  and trust governance; and to repeal certain provisions of the
  not-for-profit corporation law and the estates, powers and trusts  law
  relating thereto

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

  Section 1. Subparagraphs 21, 23, 24 and 25 of paragraph (a) of section
102 of the not-for-profit corporation law, subparagraphs 21, 23  and  25
as  amended  by  chapter  555 of the laws of 2015 and subparagraph 24 as
added by chapter 549 of the  laws  of  2013,  are  amended  to  read  as
follows:
  (21)  "Independent director" means a director who: (i) is not, and has
not been within the last three years, [an employee] A DIRECTOR  EMPLOYED
BY OR RECEIVING COMPENSATION FROM THE CORPORATION OR A KEY PERSON of the
corporation  or  an  affiliate  of  the corporation, and does not have a
relative who is, or has been within the last three years, a key [employ-
ee] PERSON of the corporation or an affiliate of the  corporation;  (ii)
has  not received, and does not have a relative who has received, in any
of the last three fiscal years, more than ten thousand dollars in direct
compensation from the corporation or an  affiliate  of  the  corporation
[(other  than reimbursement for expenses reasonably incurred as a direc-
tor or reasonable compensation for service as a director as permitted by
paragraph (a) of section 202 (General and special  powers))];  (iii)  is
not  a  current  employee  of  or  does not have a substantial financial
interest in, and does not have a relative who is a current officer of or
has a substantial financial interest  in,  any  entity  that  has  [made
payments]  PROVIDED  PAYMENTS,  PROPERTY  OR  SERVICES  to,  or received
payments, PROPERTY OR SERVICES from, the corporation or an affiliate  of
the corporation [for] IF THE AMOUNT PAID BY THE CORPORATION TO THE ENTI-
TY  OR  RECEIVED BY THE CORPORATION FROM THE ENTITY FOR SUCH property or
services [in an amount which], in any of the last  three  fiscal  years,

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

A10365A - Details

See Senate Version of this Bill:
S7913B
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §§102, 114, 309, 712, 713, 715, 715-a, 715-b & 720, rpld §712-a ¶(c), N-PC L; amd §8-1.9, rpld ¶(b) sub¶ 3, EPT L

A10365A - Summary

Relates to the reform of charitable corporations and trust governance.

A10365A - Bill Text download pdf

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

                                10365--A

                          I N  A S S E M B L Y

                              May 24, 2016
                               ___________

Introduced  by M. of A. BRENNAN -- read once and referred to the Commit-
  tee on Corporations,  Authorities  and  Commissions  --  reported  and
  referred  to  the  Committee  on  Codes  -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT  to  amend  the  not-for-profit corporation law and the estates,
  powers and trusts law, in relation to reformation of charitable corpo-
  rations and trust governance; and to repeal certain provisions of  the
  not-for-profit  corporation law and the estates, powers and trusts law
  relating thereto

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

  Section 1. Subparagraphs 21, 23, 24 and 25 of paragraph (a) of section
102  of  the not-for-profit corporation law, subparagraphs 21, 23 and 25
as amended by chapter 555 of the laws of 2015  and  subparagraph  24  as
added  by  chapter  549  of  the  laws  of  2013, are amended to read as
follows:
  (21) "Independent director" means a director who: (i) is not, and  has
not been within the last three years, an employee OR A KEY PERSON of the
corporation  or  an  affiliate  of  the corporation, and does not have a
relative who is, or has been within the last three years, a key [employ-
ee] PERSON of the corporation or an affiliate of the  corporation;  (ii)
has  not received, and does not have a relative who has received, in any
of the last three fiscal years, more than ten thousand dollars in direct
compensation from the corporation or an  affiliate  of  the  corporation
[(other  than reimbursement for expenses reasonably incurred as a direc-
tor or reasonable compensation for service as a director as permitted by
paragraph (a) of section 202 (General and special  powers))];  (iii)  is
not  a  current  employee  of  or  does not have a substantial financial
interest in, and does not have a relative who is a current officer of or
has a substantial financial interest  in,  any  entity  that  has  [made
payments]  PROVIDED  PAYMENTS,  PROPERTY  OR  SERVICES  to,  or received
payments, PROPERTY OR SERVICES from, the corporation or an affiliate  of
the corporation [for] IF THE AMOUNT PAID BY THE CORPORATION TO THE ENTI-

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

A10365B (ACTIVE) - Details

See Senate Version of this Bill:
S7913B
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §§102, 114, 309, 712, 713, 715, 715-a, 715-b & 720, rpld §712-a ¶(c), N-PC L; amd §8-1.9, rpld ¶(b) sub¶ 3, EPT L

A10365B (ACTIVE) - Summary

Relates to the reform of charitable corporations and trust governance.

A10365B (ACTIVE) - Bill Text download pdf

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

                                10365--B

                          I N  A S S E M B L Y

                              May 24, 2016
                               ___________

Introduced  by M. of A. BRENNAN -- read once and referred to the Commit-
  tee on Corporations,  Authorities  and  Commissions  --  reported  and
  referred  to  the  Committee  on  Codes  -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee  --  reported  and  referred  to  the  Committee on Rules -- Rules
  Committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to the Committee on Rules

AN  ACT  to  amend  the  not-for-profit corporation law and the estates,
  powers and trusts law, in relation to reformation of charitable corpo-
  rations and trust governance; and to repeal certain provisions of  the
  not-for-profit  corporation law and the estates, powers and trusts law
  relating thereto

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

  Section 1. Subparagraphs 21, 23, 24 and 25 of paragraph (a) of section
102  of  the not-for-profit corporation law, subparagraphs 21, 23 and 25
as amended by chapter 555 of the laws of 2015  and  subparagraph  24  as
added  by  chapter  549  of  the  laws  of  2013, are amended to read as
follows:
  (21) "Independent director" means a director who: (i) is not, and  has
not been within the last three years, an employee OR A KEY PERSON of the
corporation  or  an  affiliate  of  the corporation, and does not have a
relative who is, or has been within the last three years, a key [employ-
ee] PERSON of the corporation or an affiliate of the  corporation;  (ii)
has  not received, and does not have a relative who has received, in any
of the last three fiscal years, more than ten thousand dollars in direct
compensation from the corporation or an  affiliate  of  the  corporation
[(other  than reimbursement for expenses reasonably incurred as a direc-
tor or reasonable compensation for service as a director as permitted by
paragraph (a) of section 202 (General and special  powers))];  (iii)  is
not  a  current  employee  of  or  does not have a substantial financial
interest in, and does not have a relative who is a current officer of or
has a substantial financial interest  in,  any  entity  that  has  [made
payments]  PROVIDED  PAYMENTS,  PROPERTY  OR  SERVICES  to,  or received

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

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