Governor Andrew Cuomo signed the Non-Profit Revitalization Act of 2013 into law on December 18. The legislation had been pending in Albany since it was passed by the Legislature in late June.
As explained in this report, the new law is designed to reform the statutory requirements for governance of nonprofit organizations (both not-for-profit corporations and wholly charitable trusts), expand the Attorney General’s enforcement powers, and modernize and clarify some of the more mechanical and procedural New York rules applicable to not-for- profit corporations. Most provisions will take effect on July 1, 2014.
Please see full Report below for more information.
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