Article 10 of the New York State Not-for-Profit Corporation Law
requires the dissolving organization to prepare a plan for the distribution of assets and have that plan approved by a vote of the board of directors or members (in the case of a membership organization).
render a statement of the condition of the finances of the Corporation at the annual meeting of the Board of Directors as provided in Section 519 of the Not-for-Profit Corporation Law
The Saratoga County Prosperity Partnership (SCPP) is a not-for-profit local development corporation created under the New York State Not-For-Profit Corporation Law
and is considered a “local authority” as defined in the New York State Public Authorities Law.
In 1978, New York amended its Not-for-Profit Corporation Law (NPCL) to enact many provisions of the Uniform Management of Trust Funds Act.
Bing introduced UPMIFA in the 2009 legislative session (S4778 and A7907, respectively) as a new article of the Not-for-Profit Corporation Law. The NPCL was enacted in 1969, effective from 1971, replacing the Membership Corporations Law.
(c) (g) render a statement of the condition of the finances of the Corporation at the annual meeting of the board of Directors as provided in Section 519 of the Not-for-Profit Corporation Law
New York State Not-for-Profit Corporation Law
(NPCL) section 716 provides, in part, that "[n]o loans ...
Section 513(c) of the not-for-profit corporation law
states that the value of endowment assets when given to a not-for-profit corporation, known as the historic dollar value, may not be expended by the corporation.