Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 06, 2016 |
referred to corporations, authorities and commissions |
May 22, 2015 |
referred to corporations, authorities and commissions |
Senate Bill S5654
2015-2016 Legislative Session
Sponsored By
(R, C) 7th Senate District
Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee
- 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
Actions
2015-S5654 (ACTIVE) - Details
- Current Committee:
- Senate Corporations, Authorities And Commissions
- Law Section:
- Religious Corporations Law
- Laws Affected:
- Amd §2-b, Rel Corp L
2015-S5654 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5654 TITLE OF BILL: An act to amend the religious corporations law, in relation to exempting clergymen from certain provisions of the not-for-profit corporation law PURPOSE OR GENERAL IDEA OF BILL: To provide an exception for clergyman to the prohibition on not-for-profit employees serving as chairperson of the board of directors of the corporation and for related party transactions SUMMARY OF SPECIFIC PROVISIONS: Section one amends paragraph (c) of subdivision 1 of section 2-b of the religious corporations law, as amended by chapter 549 of the laws of 2013, to add paragraphs (b) and (c) of section five hundred fifty-five and paragraph (f) of section seven hundred thirteen of the not-for-profit corporations law, as exclusions under the religious corporations law. Adds that clergyman are not to be deemed a related party for related party transactions Section two of the bill establishes the effective date. JUSTIFICATION: Paragraph (f) of section 713 of the Not-For-Profit Law was added in the Not-For-Profit Revitalization Act of 2013 and will become effective on January 1, 2016.
2015-S5654 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5654 2015-2016 Regular Sessions I N S E N A T E May 22, 2015 ___________ Introduced by Sen. MARTINS -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the religious corporations law, in relation to exempting clergymen from certain provisions of the not-for-profit corporation law THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (c) of subdivision 1 of section 2-b of the reli- gious corporations law, as amended by chapter 549 of the laws of 2013, is amended and a new paragraph (f) is added to read as follows: (c) The following provisions of the not-for-profit corporation law shall not apply to religious corporations: subparagraphs (7) and (8) of paragraph (a) of section one hundred twelve, section one hundred four- teen, section two hundred one, section three hundred three, section three hundred four, section three hundred five, section three hundred six, article four except section four hundred one, section five hundred fourteen, that portion of PARAGRAPH (B) AND OF PARAGRAPH (C) OF section five hundred fifty-five [(b) and section five hundred fifty-five (c)] which reads "The institution shall notify the donor, if available, and the attorney general of the application, and the attorney general and such donor must be given an opportunity to be heard", section six hundred five, section six hundred seven, section six hundred nine, PARA- GRAPH (F) OF SECTION SEVEN HUNDRED THIRTEEN, section eight hundred four, article nine except section nine hundred ten, article ten except as provided in section eleven hundred fifteen, section eleven hundred two, and article fifteen except paragraph (c) of section fifteen hundred seven. (F) FOR PURPOSES OF RELATED PARTY TRANSACTIONS UNDER SECTION SEVEN HUNDRED FIFTEEN OF THE NOT-FOR-PROFIT CORPORATION LAW, A "CLERGYMAN" AS DEFINED BY SECTION TWO OF THIS ARTICLE SHALL NOT BE DEEMED TO BE A RELATED PARTY. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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