senate Bill S7913B

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 Via A10365 - Signed by Governor


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

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Actions

view actions (13)
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 16, 2016 substituted by a10365b
Jun 07, 2016 amended on third reading 7913b
Jun 06, 2016 advanced to third reading
amended 7913a
Jun 02, 2016 2nd report cal.
Jun 01, 2016 1st report cal.1331
May 24, 2016 referred to corporations, authorities and commissions

S7913 - Details

See Assembly Version of this Bill:
A10365
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

S7913 - Summary

Relates to the reform of charitable corporations and trust governance.

S7913 - Sponsor Memo

S7913 - Bill Text download pdf

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

                                  7913

                            I N  S E N A T E

                              May 24, 2016
                               ___________

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  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

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

S7913A - Details

See Assembly Version of this Bill:
A10365
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

S7913A - Summary

Relates to the reform of charitable corporations and trust governance.

S7913A - Sponsor Memo

S7913A - Bill Text download pdf

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

                                 7913--A
    Cal. No. 1331

                            I N  S E N A T E

                              May 24, 2016
                               ___________

Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
  when printed to be committed to the Committee on Corporations, Author-
  ities and Commissions  --  reported  favorably  from  said  committee,
  ordered  to first and second report, amended on second report, ordered
  to a third reading, and to be  reprinted  as  amended,  retaining  its
  place in the order of third reading

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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

S7913B (ACTIVE) - Details

See Assembly Version of this Bill:
A10365
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

S7913B (ACTIVE) - Summary

Relates to the reform of charitable corporations and trust governance.

S7913B (ACTIVE) - Sponsor Memo

S7913B (ACTIVE) - Bill Text download pdf

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

                                 7913--B
    Cal. No. 1331

                            I N  S E N A T E

                              May 24, 2016
                               ___________

Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
  when printed to be committed to the Committee on Corporations, Author-
  ities and Commissions  --  reported  favorably  from  said  committee,
  ordered  to first and second report, amended on second report, ordered
  to a third reading, and to be  reprinted  as  amended,  retaining  its
  place  in  the  order  of  third  reading -- again amended and ordered
  reprinted, retaining its place in the order of third reading

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

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