Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 20, 2018 |
committed to rules |
May 22, 2018 |
advanced to third reading |
May 16, 2018 |
2nd report cal. |
May 15, 2018 |
1st report cal.1248 |
Apr 18, 2018 |
referred to corporations, authorities and commissions |
Senate Bill S8216
2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Rules Committee
- 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
2017-S8216 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10654
- Current Committee:
- Senate Rules
- Law Section:
- Not-for-Profit Corporation Law
- Laws Affected:
- Amd §§715-b, 716, 717, 718 & 720-a, N-PC L
- Versions Introduced in 2019-2020 Legislative Session:
-
S2267, A433
2017-S8216 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8216 Revised 4/20/18 SPONSOR: RANZENHOFER TITLE OF BILL: An act to amend the not-for-profit corporation law, in relation to the regulation of key persons PURPOSE: To add key persons to the list of persons to whom certain policies apply SUMMARY OF PROVISIONS: Section 1 amends subparagraph 715-b (b)(4) of NFP Corporations Law to add "key person" to the list of individuals subject to the provisions of that section. Section 2 amends NFP Corporations Law section 716 to add "key person" to the list of persons subject to the provisions of that section. Section 3 amends NFP Corporations Law section 717 to add "key person" to the list of persons subject to the provisions of that section.
2017-S8216 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8216 I N S E N A T E April 18, 2018 ___________ 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, in relation to the regulation of key persons THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (a) and subparagraph 4 of paragraph (b) of section 715-b of the not-for-profit corporation law, as amended by chap- ter 466 of the laws of 2016, are amended to read as follows: (a) Except as provided in paragraph (c) of this section, the board of every corporation that has twenty or more employees and in the prior fiscal year had annual revenue in excess of one million dollars shall adopt, and oversee the implementation of, and compliance with, a whist- leblower policy to protect from retaliation persons who report suspected improper conduct. Such policy shall provide that no director, officer, KEY PERSON, employee or volunteer of a corporation who in good faith reports any action or suspected action taken by or within the corpo- ration that is illegal, fraudulent or in violation of any adopted policy of the corporation shall suffer intimidation, harassment, discrimination or other retaliation or, in the case of employees, adverse employment consequence. (4) A requirement that a copy of the policy be distributed to all directors, officers, KEY PERSONS, employees and to volunteers who provide substantial services to the corporation. For purposes of this subdivision, posting the policy on the corporation's website or at the corporation's offices in a conspicuous location accessible to employees and volunteers are among the methods a corporation may use to satisfy the distribution requirement. § 2. Section 716 of the not-for-profit corporation law, as amended by chapter 549 of the laws of 2013, is amended to read as follows: § 716. Loans to directors [and], officers AND KEY PERSONS. No loans, other than through the purchase of bonds, debentures, or similar obligations of the type customarily sold in public offerings, or EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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