N.Y. State Delays a Board Provision of New Law on Nonprofits
July 7, 2014 | Read Time: 1 minute
New York Gov. Andrew Cuomo signed legislation last week delaying a provision of the state’s sweeping overhaul of charity regulations that would bar employees of a charity from chairing its board of directors, reports the Associated Press.
Legislative sponsors of the bill said they wanted more time to study the impact of the restriction, which was sought by state Attorney General Eric Schneiderman as a means of ensuring board independence. The provision is now set to take effect on Jan. 1, 2016.
The reform law, passed last year, also tightens conflict-of-interest-rules, requires nonprofit boards to exercise greater fiscal oversight, and allows organizations to incorporate, dissolve, and merge more freely.
Reach a Chronicle of Philanthropy article on New York’s Nonprofit Revitalization Act.
