NY S08216

Expands whistleblower protections under not-for-profit corporation law to include "key persons" alongside directors, officers, employees, and volunteers, protecting them from retaliation for reporting illegal or fraudulent conduct.

Prohibits loans by not-for-profit corporations to directors, officers, and key persons, or to entities where these individuals hold directorial, officer, or substantial financial positions, except between charitable corporations.

Requires directors, officers, and key persons to discharge their duties in good faith with the care an ordinarily prudent person would exercise, and allows them to rely on information from officers, professionals, and committees when acting in good faith.

Mandates that not-for-profit corporations maintain and make available upon written demand a current list of directors, officers, and key persons for inspection by members, creditors, and state officials within two business days.

Provides liability protection for unpaid directors, officers, key persons, and trustees of 501(c)(3) organizations, limiting liability to cases involving gross negligence or intentional harm.