Assembly 8072, amending New York's Not-for-Profit Corporation Law (NPCL), was passed in the closing hours of the 2013-2014 Legislative Regular Session. The bill, subject to the Governor's approval, would generally take effect July 1, 2014. But the effective date provision, section 132, should be reviewed carefully because it has different effective dates for certain provisions of the bill.
This first major NPCL revision in more than 40 years contains significant changes for the over 100,000 not-for-profit corporations (NPCs) in New York. A8072 is a product of the efforts of Senator Michael H. Ranzenhofer,1 Assemblyman James F. Brennan,2 their staffs,3 the Attorney General,4 the New York State Bar Association,5 and the New York State Law Revision Commission.6
