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Senate Bill S5511

2015-2016 Legislative Session

Relates to public disclosure of financial reports of charitable organizations

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Archive: Last Bill Status - In Senate Committee Finance Committee

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2015-S5511 (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Executive Law
Laws Affected:
Amd ยง174-b, Exec L

2015-S5511 (ACTIVE) - Summary

Requires that the attorney general post the financial statements of charitable organizations online and that solicitations contain such information.

2015-S5511 (ACTIVE) - Sponsor Memo

2015-S5511 (ACTIVE) - Bill Text download pdf 

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

                                  5511

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              May 14, 2015
                               ___________

Introduced  by  Sen.  FARLEY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN ACT to amend the executive law, in relation to financial  reports  by
  charitable organizations

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

  Section 1. Subdivision 1 of section 174-b of  the  executive  law,  as
amended  by  chapter  43  of  the  laws  of  2002, is amended to read as
follows:
  1. Any solicitation, by any means, including but not limited  to  oral
solicitation,  by  or  on behalf of a registered charitable organization
which is required to file financial reports pursuant to this article and
has filed all such reports, shall include therein a statement that  upon
request,  a person may obtain from the organization or from the attorney
general, a copy of the last financial report filed by  the  organization
with  the  attorney  general OR MAY VIEW SUCH STATEMENT AT A WEB ADDRESS
SPECIFIED BY THE ATTORNEY GENERAL.  Such  statement  shall  specify  the
address  of the organization and the address of the attorney general, to
which such request should be addressed and in  the  case  of  a  written
solicitation, must be placed conspicuously in the material with print no
smaller than ten point bold face type or, alternatively, no smaller than
the  size  print  used  for  the most number of words in the statements.
Provided, however, such statement need not be made where the space for a
printed advertisement or promotional time in any media has been  donated
or  made  available  to  the charitable organization at no cost and such
space or time does not reasonably permit inclusion  of  such  statement.
THE ATTORNEY GENERAL SHALL MAKE SUCH REPORTS AVAILABLE ONLINE.
  S 2. This act shall take effect on the one hundred eightieth day after
it shall have become a law.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11068-01-5

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