N.Y. Not-for-Profit Corporation Law 702 – Number of directors
§ 702. Number of directors.
Terms Used In N.Y. Not-for-Profit Corporation Law 702
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
(a) The number of directors constituting the entire board shall be not less than three. Subject to such limitation, such number may be fixed by the by-laws or by action of the members or of the board under the specific provisions of a by-law allowing such action, or by any number within a range set forth in the by-laws. If not otherwise fixed under this paragraph, the number shall be three.
(b) The number of directors may be increased or decreased by amendment of the by-laws or by action of the members, or of the board under the specific provisions of a by-law, subject to the following limitations:
(1) If the board is authorized by the by-laws to change the number of directors, whether by amending the by-laws or by taking action under the specific provisions of a by-law, such amendment or action shall require the vote of a majority of the entire board.
(2) No decrease shall shorten the term of any incumbent director.