On December 18, Governor Cuomo signed the Non-Profit Revitalization Act, an unprecedented sweeping reform of the New York Not-for-Profit Corporation Law (N-PCL). The Act makes numerous changes to the N-PCL that will affect many aspects of the formation and operation of New York not-for-profit corporations and charitable trusts. This memo outlines key changes and action items for not-for-profit boards. The changes are effective on July 1, 2014.
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