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The Laws of New York
Consolidated Laws of New York
CHAPTER 35
Not-for-Profit Corporation
ARTICLE 5-A
Prudent Management of Institutional Funds Act
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SECTION 555
Release or modification of restrictions on management, investment, or purpose
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ARTICLE 5-A
Prudent Management of Institutional Funds Act
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SECTION 557
Application to existing institutional funds
This entry was published on 2014-09-22
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SECTION 556
Reviewing compliance
Not-for-Profit Corporation (NPC) CHAPTER 35, ARTICLE 5-A
§ 556. Reviewing compliance.

Compliance with this article shall be determined in light of the facts
and circumstances existing at the time a decision is made or action is
taken, and not retrospectively.