CORPORATIONS, ASSOCIATIONS, AND PROPRIETORS OF COMMON LANDS
VOLUNTARY CORPORATIONS AND ASSOCIATIONS
Formation of Corporation
292:6-a Board of Directors of Charitable Nonprofit Corporations.
In the interest of encouraging diversity of discussion, connection with the public, and public confidence, the board of directors of a charitable nonprofit corporation shall have at least 5 voting members, who are not of the same immediate family or related by blood or marriage. No employee of a charitable nonprofit corporation shall hold the position of chairperson or presiding officer of the board. This section shall not apply to those nonprofit corporations in existence on August 10, 1996, until one year after August 10, 1996, nor to any organization qualified as a private foundation under the applicable provisions of the United States Internal Revenue Code, nor to religious organizations, churches, or the integrated auxiliaries thereof or to conventions or associations of churches. The provisions of this section may be waived with the approval of the director of charitable trusts after application for such waiver.
Source. 1996, 302:3. 1997, 184:5, eff. Jan. 1, 1998.