Two states achieved an important business legislation milestones during the month of November. Please see below for a summary of the new laws for entities in New York and Oklahoma.
Assembly Bill 433
Entities Affected: Non-Profit Corporations
New York Assembly Bill 433, effective November 8, 2019, amends the Not-for-Profit Corporation Law by subjecting key persons, as defined in the Law, to provisions regarding whistleblower policy, loans to directors and officers, lists of directors and officers and liabilities of directors and officers. View the bill text.
House Bill 2423
Entities Affected: Corporations
Oklahoma House Bill 2423, effective November 1, 2019, amends the Corporations title by authorizing new and existing business corporations to become benefit corporations with the purpose of providing general and specific public benefit as defined in the Bill. View the bill text:
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For informational purposes only; content does not constitute legal advice.