United States:
Cuomo Signs Non-Profit Revitalization Act Of 2013: New York Law Reforms Governance Rules For Nonprofits
23 December 2013
by
Laura E. Butzel
,
Tomer Inbar
,
Robin Krause
,
John Sare
,
William Gaske
,
Jean Tom
,
Megan Bell
,
Nishka Chandrasoma
,
Janine Shissler
,
Lauren Simpson
,
Antonia Grumbach
,
Rochelle Korman
and
Robert Pennoyer
Patterson Belknap Webb & Tyler LLP
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Governor Andrew Cuomo signed the Non-Profit Revitalization Act
of 2013 into law on December 18. The legislation had been pending
in Albany since it was passed by the Legislature in late June.
As explained in this report, the new law is designed to reform
the statutory requirements for governance of nonprofit
organizations (both not-for-profit corporations and wholly
charitable trusts), expand the Attorney General's enforcement
powers, and modernize and clarify some of the more mechanical and
procedural New York rules applicable to not-for-profit
corporations. Most provisions will take effect on July 1, 2014.
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