Nonprofit Revitalization Act and Executive Compensation Reform Act of 2013

New York Attorney General Eric Schneiderman is urging the state legislature to enact two bills that would reform the statutory requirements for governance of nonprofit organizations – both not-for-profit corporations and wholly charitable trusts. If the bills become law, they also would 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.

The two bills – known as the Nonprofit Revitalization Act and the Executive Compensation Reform Act – follow several rounds of review and comment from the nonprofit community and would represent the largest overhaul of New York nonprofit law since 1970.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Patterson Belknap Webb & Tyler LLP | Attorney Advertising

Written by:


Patterson Belknap Webb & Tyler LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.