Senate Bill 647 Summary

• Clarifies nonprofit corporation merger statutes to allow mergers with qualifying limited liability companies and unincorporated nonprofit associations, with proper Attorney General notice and court approval for certain transactions.

• Exempts nonprofit corporations from notifying the Attorney General of asset sales or dispositions when assets are disposed of according to a properly adopted plan of dissolution.

• Increases the charitable solicitation licensing exemption threshold from $25,000 to $50,000 in annual contributions for organizations that do not provide compensation to officers, trustees, fundraisers, or solicitors.

• Establishes multiple methods for charitable organizations to demonstrate contributions received, including IRS Form 990, Form 990-N submission confirmation, current year budget, Department financial forms, or other evidence acceptable to the Department.

• Part I becomes effective October 1, 2019 for merger plans adopted on or after that date; Part II is effective upon enactment for exemption requests filed on or after that date.