Conflicts of Interest Policies Under the Nonprofit Revitalization Act of 2013
ATTORNEY GENERAL ERIC T. SCHNEIDERMAN
Guidance Document 2015 - 4, V. 1.0
Issue date: April 13, 2015
The Nonprofit Revitalization Act of 2013 (“NPRA”) follows both common law and best practices literature in requiring directors to make disclosures about potential conflicts of interest at the beginning of their service, and on an annual basis thereafter. It also requires directors, officers and key employees to disclose potential conflicts of interest in issues which come before the Board and to refrain from participating in board deliberations and decisions on those issues. The NPRA requires that a nonprofit’s ...