On Oct. 25, 2023, Governor Hochul signed legislation which updates the Not-for-Profit Corporation Law (NPCL) and authorizes non-membership not-for-profit corporations to classify their boards through their Bylaws (i.e., create classes of directors with staggered terms). This is part of a larger effort to provide nonprofit organizations with greater clarity and comfort in interpreting more ambiguous provisions of the NPCL....
By: Bond Schoeneck & King PLLC
By: Bond Schoeneck & King PLLC