Thursday, May 22, 2008

Call for Comments on Model Nonprofit Corporations Act

As we blogged in April of this year, the June 1, 2008, deadline for comments on the ABA Business Law Section's January 2008 Exposure Draft of the Model Nonprofit Corporations Act.  Below is the Call for comments.  You can view the exposure draft on the ABA website: Part 1 and Part 2.  If you have comments that you have or will make concerning the January 2008 exposure draft, please send them along to us so that we can post on the blog.

Dear Committee Members:

I am pleased to announce that the January 2008 Exposure Draft of the Model Nonprofit Corporations Act (MNCA) is now posted on the Section of Business Law website, on the Nonprofit Corporations Committee homepage http://www.abanet.org/dch/committee.cfm?com=CL580000). The Task Force to Revise the Model Nonprofit Corporation Act is soliciting comments on this draft and will consider any comments received at the June, 2008 meeting of the Task Force. Any additional comments that any committee member would like the Task Force to consider should be sent to the Reporter for the Task Force, Bill Clark at clarkwh@dbr.com, with a copy to the Chair of the Task Force, Liz Moody, at moody@law.stetson.edu and to me, as Chair of the Nonprofit Corporations Committee, at crr@coblentzlaw.com.

The Nonprofit Corporations Committee will accept additional comments on the Act until June 1, 2008. The Task Force will meet on June 14 to review and discuss comments, and will thereafter produce a final version that, upon review and approval by Committee Leadership, will be posted to the Committee website on or before July 31. That version will be considered approved by the Committee unless the Committee Chair receives, before August 8, 2008, a significant number of comments from Committee members expressing new and material concerns of a nature such that, in the opinion of the Committee Chair, further study is required.

Once the new Model Act is finalized, a new subcommittee of the Nonprofit Corporations Committee will be organized to continue to review, consider amendments to and update annotations for the Model Act -- similar to the continuous review process followed by the Committee on Corporate Laws for the Model Business Corporations Act. This subcommittee will be open to all Committee members.

Cynthia R. Rowland Chair, Nonprofit Corporations Committee, ABA Business Law Section One Ferry Building, Suite 200 San Francisco, CA 94111-4213 Tel: (415) 772-5747 Fax: (415)989-1663 crrowland@coblentzlaw.com

DAB

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