In the News
Nonprofit Corporation Law Amendments Ease Governance Requirements on NY Nonprofits (New York Nonprofit Media)
New York Nonprofit Media, January 4, 2017
Nonprofit Corporation Law Amendments Ease Governance Requirements on NY Nonprofits
“A new law is poised to make governance easier for nonprofit organizations throughout New York state while improving board oversight in key areas including finance, handling conflicts of interest and whistleblower complaints. Most elements of the new law, which amends the Not-for-Profit Corporation Law and Estates, Powers and Trust Law, will take effect May 27, 2017….A working group consisting of the New York State Law Revision Commission, Lawyers Alliance for New York, New York City Bar Association, New York State Bar Association and Nonprofit Coordinating Committee joined together to draft a legislative fix to address these issues. Governor Cuomo signed the new law in late November 2016.”
