A new NYS law is about to make it much harder for a nonprofit to consolidate, merge, or dissolve.
Previously, only a simple majority vote was required, but effective 10/31/2021, S3265 will require a two-thirds vote.
Clearly, this new legislation will make it much harder for not-for-profit corporations to consolidate, merge, or dissolve.
Do you agree that nonprofits should have to go through a bigger hurdle to dissolve?
