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66 Cornell L. Rev. 1103 (1980-81)
Statutory Trends in the Law of Nonprofit Organizations: California Here We Come

handle is hein.journals/clqv66 and id is 1125 raw text is: STATUTORY TRENDS IN THE LAW OF NONPROFIT ORGANIZATIONS: CALIFORNIA, HERE WE COME!* Harry G. Hennt and Jeffery H. Boydtt TABLE OF CONTENTS INTRODUCTION ......................................... 1104 I. HISTORICAL DEVELOPMENT OF NONPROFIT AND BUSINESS ORGANIZATIONS ............................... 1105 II. PRECEDENCE OF BUSINESS ORGANIZATION LAW ......... 1106 III. IDEAL NONPROFIT CORPORATION STATUTE .............. 1107 A. Drafting Considerations .......................... 1107 B. D esiderata .................................... 1108 IV. ABA MODEL NON-PROFIT CORPORATION ACT ......... 1110 V. DELAWARE GENERAL CORPORATION LAW .............. 1112 VI. NEw YORK NOT-FOR-PROFIT CORPORATION LAW OF 1970 1114 A. Statutory Structure .............................. 1114 B. Recognition of Nonprofit Diversity .................. 1115 C. Supervisory Features ............................ 1117 D. Members and Member Voting ..................... 1118 E. Board of Directors .............................. 1119 F. Corporate Finance .............................. 1119 G . Donated Funds ................................ 1121 H. Duties and Liabilities of Directors and Officers ........ 1121 I. Member Derivative Actions ....................... 1123 J. Merger and Consolidation of Not-for-Profit Corporations with Business Corporations ....................... 1124 K . D issolution ................................... 1125 L. Application to Foreign Corporations ................. 1125 M . Summary .................................... 1126 * Copyright © 1982 by Harry G. Henn and Jeffery H. Boyd. All rights reserved. An earlier version of this Article was presented by Professor Henn at the Stetson University College of Law seminar on Non-Profit Organizations' Problems-1980, February 22-23, 1980. Excluded from this Article are tax aspects and other topics covered by other members partici- pating in the seminar. Acknowledgment is due Lynde H. Coit, J.D., Cornell University, for his research assistance. t Edward Cornell Professor of Law, Cornell University. A.B., New York University; LL.B., Cornell University; J.S.D., New York University. tt A.B., St. Lawrence University; J.D., Cornell University. 1103