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Welcome to the First American Commercial Title Insurance Blog. 

Not-for-Profit Corporation Can Sell Only On Board Or Member Approval

By Mike Berey on October 10, 2018

 The Plaintiff and the Defendant, a not-for-profit corporation, entered into a contract for the sale of the Defendant’s real property. The contract was executed on behalf of the Defendant by one of its Trustees but the contract was not approved by the Defendant’s Board of Directors and its Members as required by Not-for-Profit Corporation Law...

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Topics: Non-profit

Not-For-Profits And Real Property In New York

By Mike Berey on April 28, 2016

 

The “Non-Profit Revitalization Act of 2013”, enacted by Chapter 549 of the Laws of 2013, was the first major overhaul of New York law relating to non-profit entities in forty years. The Act, effective July 1, 2014, dealt with issues of corporate governance, the disposition of assets of a not-for-profit corporation (“NPC”), self-dealing and...

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Topics: New York, Non-profit, Revitalization Act of 2013

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