Bill Text: NY S05596 | 2019-2020 | General Assembly | Introduced

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Bill Title: Prohibits the New York Department of State from issuing a certificate of dissolution and filing a judgment or final order of dissolution for the pension fund for employees of the former St. Clare's Hospital in the city of Schenectady, county of Schenectady, until an investigation and/or audit by the New York State Department of Health, the New York State Attorney General or the New York State Comptroller has been conducted to ascertain whether there was any impropriety in the handling and management of funds in such pension plan.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2020-01-08 - REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS [S05596 Detail]

Download: New_York-2019-S05596-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          5596
                               2019-2020 Regular Sessions
                    IN SENATE
                                       May 8, 2019
                                       ___________
        Introduced  by  Sen. TEDISCO -- read twice and ordered printed, and when
          printed to be committed to the Committee on Corporations,  Authorities
          and Commissions
        AN  ACT  prohibiting  the  New  York  Department of State from issuing a
          certificate of dissolution and filing a judgment  or  final  order  of
          dissolution  for  the  pension  fund  for  employees of the former St.
          Clare's Hospital in the city of Schenectady,  county  of  Schenectady,
          until  an  investigation and/or audit by the New York State Department
          of Health, the New York State Attorney General or the New  York  State
          Comptroller  has  been  conducted  to  ascertain whether there was any
          impropriety in the handling and management of funds  in  such  pension
          plan
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Notwithstanding the provisions of sections 1003 and 1109 of
     2  the not-for-profit corporation law or any other provisions of article 10
     3  or 11 of the not-for-profit corporation law, no petition for  a  certif-
     4  icate  of  dissolution  for the pension fund for employees of the former
     5  St. Clare's Hospital in the city of Schenectady, county of  Schenectady,
     6  shall  be  issued by the New York Department of State and no judgment or
     7  final order of dissolution by the Supreme Court shall be  filed  by  the
     8  New York Department of State unless and until a period of sixty days has
     9  elapsed following the conclusion of an investigation and/or audit by the
    10  New York State Department of Health, the New York State Attorney General
    11  or the New York State Comptroller has been conducted to ascertain wheth-
    12  er there was impropriety in the handling and management of funds in such
    13  pension plan.
    14    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11399-02-9