NY A10002

Amends the not-for-profit corporation law to permit faculty members from colleges or universities with accredited Doctor of Physical Therapy programs to organize university faculty practice corporations, in addition to faculty from medical, dental, chiropractic, and optometry schools.

Allows physical therapy faculty practice corporations to provide clinical instruction and supervision of students, interns, and residents while rendering professional services in support of their institution's educational mission.

Requires physical therapy faculty practice corporations to comply with section 501(c)(3) of the Internal Revenue Code and their institution's faculty practice plan.

Restricts membership, directorship, and officer positions in these corporations to individuals licensed to practice physical therapy in New York and holding faculty status at the sponsoring institution.

Takes effect immediately upon enactment.