Loading chat...
NY S07191
Bill
Status
10/21/2014
Primary Sponsor
Michael Nozzolio
Click for details
AI Summary
-
Amends the deed of trust for The Clifton Springs Sanitarium Company to allow the board of trustees to consist of not less than fifteen nor more than twenty-seven persons (previously twenty-five maximum).
-
Permits the board of trustees to increase or decrease the number of trustees within the specified range by majority vote through a resolution adopted prior to the annual meeting.
-
Authorizes the board to amend the Certificate of Incorporation to establish a single corporate member (a New York not-for-profit corporation) and delegate decision-making authority to that member as permitted under the Not-for-Profit Corporation Law.
-
Establishes that trustees shall be classified into three classes with staggered three-year terms, ensuring one class's term expires each year.
-
Takes effect immediately upon enactment.
Legislative Description
Relates to the membership of the Clifton Springs Sanitarium Company.
Last Action
SIGNED CHAP.419
10/21/2014