Stroock Special Bulletin
“Governor Cuomo Approves Amendments to 2013 New York Non-Profit Revitalization Act to Refine Numerous Provisions, Including Those Relating to Conflicts of Interest, Related-Party Transactions and Board Committee Composition”
By: David W. Lowden
On November 28, 2016, Governor Andrew Cuomo signed legislation that makes major needed revisions to the Non-Profit Revitalization Act of 2013 (NPRA) for New York-formed nonprofits. This Stroock Special Bulletin examines this legislation and these changes, which address some of the irksome problems created by the NPRA, especially the provisions dealing with related party transactions, conflicts of interest and board committee composition, making nonprofit operations more manageable.