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Additional Amendments to the Nonprofit Revitalization Act of 2013 Become Law

On November 28, 2016, Bill A10365-B containing further changes to the New York Nonprofit Revitalization Act became law. Our prior alert, available here, discussed the details and implications of the June 2016 legislation. ...more

Relief in Sight for New York Nonprofits with Prospect of Additional Amendments to the Nonprofit Revitalization Act of 2013

On June 16, 2016, the New York Legislature passed A10365-B approving further changes to the Nonprofit Revitalization Act (the “Revitalization Act” or “Act”), including major changes to the rules on independent directors and...more

Iran Sanctions Eased, But Restrictions Remain

Canadian companies with U.S. operations must keep alert to developments in U.S. sanctions laws. Such sanctions apply to any entity organized under the laws of a U.S. jurisdiction (regardless of foreign ownership of such...more

Iran Sanctions Eased, But Restrictions Remain

The United States recently lifted certain sanctions against the Islamic Republic of Iran, but the general prohibition on exporting to Iran remains in place. Specifically, on January 16, 2016 (commonly known as...more

Recent Amendments to the New York Nonprofit Revitalization Act of 2013

On July 1, 2014, the New York Nonprofit Revitalization Act of 2013 (the Revitalization Act) came into effect and brought about major changes for all New York nonprofit corporations, including education corporations and...more

Gorman v. Salamone: Updating Delaware Law on the Removal of Officers by Stockholders

The power to remove officers is usually reserved for a Delaware corporation’s board of directors. Express language in a certificate of incorporation can reserve this power for stockholders, and until recently, Delaware courts...more

New York Nonprofit Revitalization Act Of 2013 To Have Significant Impact On State’s Nonprofit Corporations

When New York State Governor Andrew Cuomo signed the Nonprofit Revitalization Act of 2013 into law on December 18, 2013, New York nonprofit corporations became subject to the most substantial revision of the New York...more

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