LexisNexis® Emerging Issues Analysis (excerpt only)

LexisNexis® Emerging Issues Analysis: New York Enacts Not-for-Profit Corporation Law Reform

Below is an excerpt from “New York Enacts Not-for-Profit Corporation Law Reform.” This article was published in January 2014 by LexisNexis® Emerging Issues Analysis.

“The Non-Profit Revitalization Act is truly a sweeping change to the law governing New York not-for-profits. The first major change in over 40 years, it promises to affect the operations of not-for-profit entities for decades to come. The Act is interesting because, while one of its principal purposes is reducing government burdens and simplifying compliance, the new provisions designed to protect against abusive transactions, especially those involving related parties, create an extensive new compliance regime. The goal of the Act can be stated as increasing oversight in areas where it is essential to protect the public from abuse of assets dedicated to charitable purposes, while reducing oversight in cases where it is not. This is exactly what a reform bill should do. It is our hope that the passage of this bill will end the long neglect of the statue, and the legislature can continue to refine it to reflect experience with the new rules and the changing needs of the not-for-profit sector in years to come.” 1

For a complete copy of this article, please contact Joshua E. Gewolb at 585-231-1151 or This email address is being protected from spambots. You need JavaScript enabled to view it..

1 ”New York Enacts Not-for-Profit Corporation Law Reform,” Emerging Issues Analysis, LexisNexis® (January 2014)

click here to view LEGALcurrents (PDF)

Disclaimer

This website presents only general information not intended as legal advice. Although we encourage calls, letters and emails from prospective clients, please keep in mind that merely contacting Harter Secrest & Emery LLP (HSE) does not establish an attorney-client relationship between us. Confidential information should not be sent to HSE until you have been notified in writing by HSE that a formal attorney-client relationship has been established. Information sent to us before then may not be treated as confidential by HSE or the court.

I have read this and agree     Cancel

Our website uses cookies. By continuing to use our site, you agree to our use of cookies in accordance with our Privacy Policy.