Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Francis J. SerbaroliFrancis J. Serbaroli ()

In 2013, the New York State Legislature enacted and Gov. Andrew Cuomo signed into law the Nonprofit Revitalization Act1 (NRA), the most extensive set of revisions to the Not-for-Profit Corporation Law (NPCL) in more than 40 years. We summarized those revisions in an earlier Health Law column.2 While the NRA provided many needed improvements to the NPCL, it also created a few problems for not-for-profit organizations. The NRA was amended twice in 2015,3 among other things to extend to Jan. 1, 2017 the effective date of the prohibition on an employee serving as the chair of the board of directors of a not-for-profit corporation; to amend the definitions of “independent director,” “related party,” “key employee,” and other terms; and to clarify provisions related to approval of board member compensation, board quorums, board committees, and participation in board meetings where related party transactions are considered.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com

Dig Deeper

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2017 ALM Media Properties, LLC. All Rights Reserved.