Senate Bill S7913B

Signed By Governor
2015-2016 Legislative Session

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

download bill text pdf

Sponsored By

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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
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 - Summary

Relates to the reform of charitable corporations and trust governance.

2015-S7913 - Sponsor Memo

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 - Summary

Relates to the reform of charitable corporations and trust governance.

2015-S7913A - Sponsor Memo

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) - Summary

Relates to the reform of charitable corporations and trust governance.

2015-S7913B (ACTIVE) - Sponsor Memo

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
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.