**Update 12/1/16** Additional Amendments to Nonprofit Revitalization Act Signed Into Law On November 28, 2016, Governor Cuomo signed into law Chapter 466 oAdditional Amendments to Nonprofit Revitalization Act Signed Into Law On November 28, 2016, Governor Cuomo signed into law Chapter 466 of the Laws of New York of 2016 (Assemb. Bill 10365B) (the "2016 Amendment"). The 2016 Amendment is intended to "improve and make clarifying amendments to the Nonprofit Revitalization Act of 2013" (the "NPRA")1 in order to "correct certain inconsistencies, and . . . make the statute operate more smoothly and efficiently,"2 most notably to the "related party" provisions and the prohibition in the NPRA against employees serving as the chair of the board of a corporation organized under the New York Not-for-Profit Corporation Law ("NPCL"). The 2016 Amendment amends certain provisions of the NPCL and corresponding provisions of the Estates, Powers and Trusts Law.3 The changes go into effect on May 27, 2017, 180 days after the Governor signed the law, except for the amendment to NPCL § 713(f), described below, relating to the chair of the board, which is effective on January 1, 2017.
Tools, Templates & Resources for NYCON Members
As you may already know, the Nonprofit Revitalization Act is a landmark change in the Not-for-Profit Corporation Law of the State of New York and will usher in a modern era for the operation and governance of nonprofit corporations starting on July 1, 2014. NYCON knows that the new rules can be confusing – and that figuring out your next steps can be daunting if you don’t know where to begin.
To help our members, NYCON’s legal team has provided a number of different solutions to help bring you into compliance with the Nonprofit Revitalization Act. As a member of NYCON, your nonprofit has access to a variety of affordable and practical resources.
Additional Tools, Phone Assistance & Customized Bylaw Reviews are Available to Members. Not sure if your nonprofit is a member? Please contact our Membership Department.
Additional Guidance and Publications from the Charities Bureau
Based on changes made by the Nonprofit Revitalization Act or 2013, the Charities Bureau is currently updating its publications and forms and drafting new guidance to assist nonprofits in complying with the Act. Please check back here for updates.
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