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  • Non-Profit Revitalization Act of 2013

    On December 18, 2013, Governor Andrew M. Cuomo signed into law the Non-Profit Revitalization Act of 2013 (the “Act”).  The Act signifies the first substantial overhaul of the laws governing New York’s nonprofit sector in almost a half-century.  The Act, which will take effect on July 1, 2014, amends numerous sections of the New York Not-for-Profit Corporation Law and several sections of other New York laws, including, but not limited to, the Executive Law, Education Law, Religious Corporations Law and the Estates, Powers and Trusts Law.  The purpose of the Act is two-fold:  to reduce unnecessary and expensive regulatory burdens on nonprofits and to strengthen nonprofit governance and accountability.  Click here for a memorandum which summarizes the major changes effected by the Act and provides suggestions for how to bring your organization into compliance.  If you have any questions regarding the Act or would like assistance with compliance, please contact Hayley M. Kelch at (212) 510-2230 or hkelch@cullenanddykman.com, or Dina L. Vespia at (212) 510-2245 or dvespia@cullenanddykman.com.