New York State Assembly

Bill No.:  

 
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S08699 Summary:

BILL NO	S08699
SAME AS	SAME AS A10336-A
SPONSOR	GALLIVAN
COSPNSR
MLTSPNSR
Amd §601, N-PC L
Establishes that no corporation shall have a membership comprised of fewer than three persons, except for a corporation that has no members; may have a corporation, joint-stock association, unincorporated association or partnership as a sole member, if it is owned or controlled by no fewer than three persons.

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S08699 Actions:

BILL NO	S08699
05/10/2018	REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
06/20/2018	COMMITTEE DISCHARGED AND COMMITTED TO RULES
06/20/2018	ORDERED TO THIRD READING CAL.2065
06/20/2018	SUBSTITUTED BY A10336A
	A10336 AMEND=A Paulin (MS)
	04/10/2018	referred to corporations, authorities and commissions
	05/10/2018	amend and recommit to corporations, authorities and commissions
	05/10/2018	print number 10336a
	05/14/2018	reported
	05/17/2018	advanced to third reading cal.936
	05/30/2018	passed assembly
	05/30/2018	delivered to senate
	05/30/2018	REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
	06/20/2018	SUBSTITUTED FOR S8699
	06/20/2018	3RD READING CAL.2065
	06/20/2018	PASSED SENATE
	06/20/2018	RETURNED TO ASSEMBLY
	12/11/2018	delivered to governor
	12/21/2018	signed chap.411

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S08699 Committee Votes:

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S08699 Floor Votes:

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S08699 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8699
 
                    IN SENATE
 
                                      May 10, 2018
                                       ___________
 
        Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Corporations,  Authorities
          and Commissions
 
        AN  ACT  to  amend  the  not-for-profit  corporation law, in relation to
          requiring that no corporation have a membership of  fewer  than  three
          persons
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Paragraph (a) of section 601 of the  not-for-profit  corpo-
     2  ration law, as amended by chapter 549 of the laws of 2013, is amended to
     3  read as follows:
     4    (a)  A  corporation  shall have one or more classes of members, or, in
     5  the case of a charitable corporation, may have no members, in which case
     6  any such provision for classes of members or for no members shall be set
     7  forth in the certificate of incorporation or the by-laws.  Corporations,
     8  joint-stock  associations, unincorporated associations and partnerships,
     9  as well as any other person without limitation, may be members, provided
    10  however, that effective July first, two  thousand  nineteen,  no  corpo-
    11  ration except a corporation that has no members, shall have a membership
    12  comprised  of fewer than three persons.  A corporation may have a corpo-
    13  ration, joint-stock association, unincorporated association or  partner-
    14  ship  as  a  sole  member, if such corporation, joint-stock association,
    15  unincorporated association or partnership is owned or controlled  by  no
    16  fewer than three persons.
    17    § 2. This act shall take effect immediately.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15274-03-8

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