Take a look at this article detailing the recent changes to the Nonprofit Corporation Act. The amendments were made to reflect current nonprofit practices and also make the Act more closely parallel to the State’s Business Corporations Act. One of the new provisions expands nonprofit directors’ indemnification to include paid directors and protects all directors from liability for gross negligence. Under the new law, nonprofit directors only have liability for instances of intentional, self-serving actions or those made to intentionally hurt an organization. Click here to read the article!
Curious as to how these updates may affect you and your business? Contact C&G today!
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