Gov. Andrew Cuomo signed legislation to postpone for a year a key provision of New York’s recently enacted reforms for nonprofits that would prohibit employees from also serving as chairmen.
The law, intended to prevent conflicts of interest, was to have taken effect on Jan. 1.
However, the bill’s sponsor, Assemblyman James Brennan of Brooklyn, says it’s a worthy policy goal but the Legislature “requires more time to study the impact of this prohibition on not-for-profit corporations.”
It passed the Assembly 143 to 4.