Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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May 15, 2023 | advanced to third reading |
May 10, 2023 | 2nd report cal. |
May 09, 2023 | 1st report cal.786 |
Mar 16, 2023 | referred to corporations, authorities and commissions |
senate Bill S5806
Sponsored By
Leroy Comrie
(D) 14th Senate District
Current Bill Status - On Floor Calendar
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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S5806 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A6940
- Law Section:
- Not-for-Profit Corporation Law
- Laws Affected:
- Amd §704, N-PC L
S5806 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5806 SPONSOR: COMRIE TITLE OF BILL: An act to amend the not-for-profit corporation law, in relation to authorizing non-membership not-for-profit corporations to classify board of directors in the by-laws PURPOSE: The purpose of this bill is to authorize non-membership not-for-profit corporations to classify their boards through their by-laws SUMMARY OF SPECIFIC PROVISIONS: Section 1. Amends Paragraph (a) of section 704 of the not-for-profit corporation law to remove the clause 'adopted by the members. Section 2 sets forth the effective date.
S5806 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5806 2023-2024 Regular Sessions I N S E N A T E March 16, 2023 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, 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 authorizing non-membership not-for-profit corporations to classify board of directors in the by-laws THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (a) of section 704 of the not-for-profit corpo- ration law, as amended by chapter 847 of the laws of 1970, is amended to read as follows: (a) The certificate of incorporation or a by-law [adopted by the members] may provide that directors elected or appointed at large shall be divided into either two, three, four or five classes for the purpose of staggering their terms of office and that all or some of the direc- tors elected or appointed otherwise than at large shall be divided into the same or a different number of classes, not exceeding five, for the same purpose. All classes of each type shall be as nearly equal in number as possible and, if provision has been made for cumulative voting under section 617 (Cumulative voting), no class shall include less than three directors. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10109-01-3
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