Published in the NYSBA Health Law Journal,
Vol. 21, No. 3
1. Introduction
On December 18, 2013 New York Governor Andrew Cuomo signed into law the Nonprofit Revitalization Act of 2013 (“NPRA”).1 By adopting NPRA, the legislature sought to modernize New York’s Not-for-Profit Corpo-ration Law (the “NPCL”) and strengthen the New York not-for-profit sector by increasing flexibility in board op-erations while raising board oversight expectations as to financial and operational matters, requiring board (rather than management) oversight of the annual audit, and in-creasing oversight of conflict of interest practices (particu-larly related party transactions).2
