Senate Bill S2267

Signed By Governor
2019-2020 Legislative Session

Relates to the regulation of key persons

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A433 - 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

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2019-S2267 (ACTIVE) - Details

See Assembly Version of this Bill:
A433
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §§715-b, 716, 717, 718 & 720-a, N-PC L
Versions Introduced in 2017-2018 Legislative Session:
S8216, A10654

2019-S2267 (ACTIVE) - Summary

Provides for the regulation of key persons in addition to directors and officers of certain corporations.

2019-S2267 (ACTIVE) - Sponsor Memo

2019-S2267 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2267
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 23, 2019
                                ___________
 
 Introduced by Sens. COMRIE, RANZENHOFER -- read twice and ordered print-
   ed, and when printed to be committed to the Committee on Corporations,
   Authorities 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:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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