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 |
Senate Bill S7913B
Signed By Governor2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A10365 - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
Bill Amendments
2015-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
2015-S7913 - Sponsor Memo
BILL NUMBER: S7913 TITLE OF BILL : An act to amend the not-for-profit corporation law and the estates, powers and trusts law, in relation to reformation of charitable corporations and trust governance; and to repeal certain provisions of the not-for-profit corporation law and the estates, powers and trusts law relating thereto PURPOSE OR GENERAL IDEA OF BILL : To improve and make clarifying amendments to the Nonprofit Revitalization Act of 2013. SUMMARY OF SPECIFIC PROVISIONS : Section 1 - of the bill amends the definition of "independent director" to: *clarify that such definition applies to "key" non-employees of the corporation; *provide a different formula (using a sliding scale) to define "independent"; *provide a definition for the terms "compensation" and "payment". This section also provides exceptions to the definition of "real party transaction" and a more comprehensive definition of "key person".
2015-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.
2015-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
2015-S7913A - Sponsor Memo
BILL NUMBER: S7913A TITLE OF BILL : An act to amend the not-for-profit corporation law and the estates, powers and trusts law, in relation to reformation of charitable corporations and trust governance; and to repeal certain provisions of the not-for-profit corporation law and the estates, powers and trusts law relating thereto PURPOSE OR GENERAL IDEA OF BILL : To improve and make clarifying amendments to the Nonprofit Revitalization Act of 2013. SUMMARY OF SPECIFIC PROVISIONS : Section one - of the bill amends the definition of "independent director" to: *clarify that such definition applies to "key" non-employees of the corporation; *provide a different formula (using a sliding scale) to define "independent"; *provide a definition for the terms "compensation" and "payment". Section one - also provides exceptions to the definition of "real party transaction" and a more comprehensive definition of "key
2015-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
2015-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
2015-S7913B (ACTIVE) - Sponsor Memo
BILL NUMBER: S7913B TITLE OF BILL : An act to amend the not-for-profit corporation law and the estates, powers and trusts law, in relation to reformation of charitable corporations and trust governance; and to repeal certain provisions of the not-for-profit corporation law and the estates, powers and trusts law relating thereto PURPOSE OR GENERAL IDEA OF BILL : To improve and make clarifying amendments to the Nonprofit Revitalization Act of 2013. SUMMARY OF SPECIFIC PROVISIONS : Section one - of the bill amends the definition of "independent director" to: *clarify that such definition applies to "key" non-employees of the corporation; *provide a different formula (using a sliding scale) to define "independent"; *provide a definition for the terms "compensation" and "payment".
2015-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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