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A10006Assembly2009-2010 SessionSame asS7040

Relates to the compensation of not-for-profit corporation directors, officers, or administrators

Sponsor Nancy CalhounAD-96+7 co-sponsorsAffects Economy
Status
In Assembly Committee
Corporations, Authorities And Commissions
Impact
Pending
Passage
Pending

Bill progress

Step 2 of 7

In committee · Corporations, Authorities And Commissions

What's happening

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Who cares

Headline styles

Sponsors

Primary sponsor
Nancy Calhoun

Assembly Member · Assembly District 96

History

  1. Held for consideration in corporations, authorities and commissions
  2. Referred to corporations, authorities and commissions

Companion bill

The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.

S7040Senate

Relates to the compensation of not-for-profit corporation directors, officers, or administrators

In Senate Committee · Corporations, Authorities And Commissions · Sponsor Frank Padavan

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

BILL NUMBER:A10006

Title of bill

An act to amend the not-for-profit corporation law, in relation to compensation of not-for-profit corporation directors, offi- cers, or administrators

Purpose or general idea of bill

Relates to compensation of not-for-pro- fit corporation directors, officers, or administrators

Summary of provisions

Amends the not-for-profit corporation law by adding a new Section 727.

This section ensures the compensation of directors, officers, or admin- istrators of a not-for-profit corporation shall not receive funding from any source from New York State when the director, officer, or adminis- trator of such not-for-profit corporation receives a greater salary than the governor receives.

Justification

Ensures the majority of funds are distributed to help those in need; allowing the organization to maximize their funding for the needs of its clients.

Prior legislative history

New Bill

Fiscal implications

None

Effective date

Immediately

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.