Assembly Bill A6940

Signed By Governor
2023-2024 Legislative Session

Authorizes non-membership not-for-profit corporations to classify their boards through their by-laws

download bill text pdf

Sponsored By

Current Bill Status - Signed by Governor

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-A6940 (ACTIVE) - Details

See Senate Version of this Bill:
S5806
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §704, N-PC L

2023-A6940 (ACTIVE) - Summary

Authorizes non-membership not-for-profit corporations to classify boards through the by-laws and not solely through the certificate of incorporation.

2023-A6940 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6940
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 9, 2023
                                ___________
 
 Introduced  by  M.  of A. SIMONE, ZEBROWSKI -- read once and referred to
   the Committee on Corporations, Authorities and Commissions
 
 AN ACT to amend the  not-for-profit  corporation  law,  in  relation  to
   authorizing  non-membership  not-for-profit  corporations  to classify
   board of directors in the by-laws

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph (a) of section 704 of the not-for-profit corpo-
 ration law, as amended by chapter 847 of the laws of 1970, is amended to
 read as follows:
   (a) The certificate of incorporation  or  a  by-law  [adopted  by  the
 members]  may provide that directors elected or appointed at large shall
 be divided into either two, three, four or five classes for the  purpose
 of  staggering  their terms of office and that all or some of the direc-
 tors elected or appointed otherwise than at large shall be divided  into
 the  same  or a different number of classes, not exceeding five, for the
 same purpose. All classes of each type  shall  be  as  nearly  equal  in
 number as possible and, if provision has been made for cumulative voting
 under  section 617 (Cumulative voting), no class shall include less than
 three directors.
   § 2. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10109-01-3

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